Twenty Chinese nationals were arrested during a raid on a residence in Pasay City that was operating as a hub for a cryptocurrency scam managed by Chinese individuals.
Agents of the Bureau of Immigration and the Armed Forces of the Philippines made the arrest in a residential condominium building along Robert Street, Roxas Boulevard.
BI commissioner Joel Anthony Viado said eighteen males and two females were nabbed while they were allegedly running a cryptocurrency scam from residential units.
“This is more than an immigration enforcement action. This is a clear message that we will not allow the Philippines to become a playground for foreign syndicates exploiting our digital and legal systems. Under the directive of President Marcos, we are intensifying our crackdown on cyber fraud and illegal foreign operations,” said Viado.
The operation stemmed from verified intelligence received by the FSU from a confidential informant.
According to reports, the group had been conducting fraudulent schemes involving digital currencies such as Bitcoin and Ethereum, deceiving victims into surrendering digital assets or revealing sensitive personal information.
FSU Chief Rendel Ryan Sy confirmed the suspects were operating from the 18th and 20th floors of the condominium complex.
“Our agents caught them in the act. The operation was swift and precise,” he said.
“We are now in the process of verifying their identities, immigration records, and criminal histories in China through our counterparts,” Sy added.
The arrested individuals are currently detained at the BI’s facility in Taguig while undergoing deportation proceedings.
