NBI Arrests Fifteen Persons for Crypto Investment Scam; Devices Seized
The National Bureau of Investigation – Dangerous Drugs Division (NBI-DDD), together with the Philippine Air Force Intelligence Unit, implemented an operation called Warrant to Search, Seize, and Examine Computer Data (WSSECD) in Mandaluyong City on May 9, 2026 for an alleged crypto scam.
Prior to the operation, the NBI-DDD received information about suspicious scamming activities allegedly being conducted by an individual who goes by the alias “Boss Choi” and other persons in an apartment complex in Mandaluyong City. According to the report, the scammers were using a fraudulent website mimicking another entity’s page in order to solicit cryptocurrency investments from their unsuspecting victims.
In the commencement of the operation, inside the premises were found one Chinese male, one Malaysian male, twelve Filipino males, and one Filipino female. They were sighted working on their desktop computers, alongside multiple peripheral devices. The hardware found was subjected to an on-site digital forensic examination, which revealed they had contained “critical digital data serving as tools and instruments in committing Computer-Related Forgery as defined under Republic Act No. 10175 otherwise known as the “Cybercrime Prevention Act of 2012,” according to a press release published on the website of the NBI.
From the investigation of the Bureau of the circumstances, it was made apparent that a scamming network operation was being conducted by the group of individuals. The apprehended subjects were presented for inquest proceedings for violations of various sections of Republic Act 10175, otherwise known as The Cybercrime Prevention Act of 2012, covering social engineering schemes and economic sabotage; misuse of devices, computer related forgery, and aiding and abetting in the commission of a cybercrime.
The seized equipment is being examined to further verify the extent of the fraudulent operations and the span of affected investors.
Online Scam Hub Included “Pig Butchering” Scams Involving Fake Crypto Investments
On April 20, 2026, the National Bureau of Investigation announced the arrest of 48 individuals allegedly involved in an online scam hub in Parañaque City.
The bureau said in a statement that it received information about a group engaged in illicit schemes such as “love scams,” “pig butchering,” and cryptocurrency investment fraud.
“Love scams” involve tricksters who build fake online relationships to gain victims’ trust and affection, before requesting funds to be sent urgently for fabricated emergencies.
On the other hand, “pig butchering” scams involve long-term grooming of victims who, after a period of time, are lured into fake cryptocurrency investments that promise false profits before victims’ funds are stolen.
Cryptocurrency investment scams involve the use of fraudulent trading platforms that promise high returns, promote fabricated gains, and later block withdrawal attempts by customers or demand additional fees.
After verifying the information, the NBI secured a Warrant to Search, Seize, and Examine Computer Data (WSSECD) and carried out an operation.
Bureau agents recovered pre-written guides containing step-by-step procedures on how to engage and deceive potential victims.
The NBI said the suspects used “deceptive representations and emotional manipulation” to gain the trust and affection of victims and induce them to send funds.
Of the 48 arrested, 41 were Filipino women and seven were foreign nationals.
The suspects were presented for inquest proceedings for alleged computer-related fraud under the Cybercrime Prevention Act of 2012 and the Anti-Financial Account Scamming Act (AFASA).
“Director (Melvin) Matibag issued a strong warning to all individuals involved in this illegal modus operandi, stating that the NBI will spare no effort in relentlessly pursuing and prosecuting them to ensure justice is served,” the NBI said.
What Is a Cryptocurrency Scam?
A cryptocurrency scam is a fraudulent scheme involving digital assets. It may involve inducing or manipulating a victim to buy, transfer, deposit, invest, stake, swap, or reveal access to cryptocurrency through deception.
Common crypto assets involved include:
- Bitcoin
- Ether
- USDT
- USDC
- BNB
- SOL
- XRP
- TRX
- meme coins
- newly issued tokens
- NFTs
- Stablecoins
- wrapped tokens
- liquidity pool tokens.
A scam may involve actual cryptocurrency transfers, fake balances on a website, falsified investment contracts, or theft of wallet credentials.
Common Cryptocurrency Scams in the Philippines
Cryptocurrency scams in the country have become common because digital assets can now be transferred quickly, using pseudonyms, across borders, and often without the chargeback protections found in traditional banking. Victims may lose money through the following:
- Fraudulent Exchanges
A fraudulent exchange is a website or an app that pretends to be a crypto exchange. Victims deposit crypto or fiat, but the platform is controlled by scammers.
- Fake Investment Platform
The victim is invited to invest in a crypto platform that promises high returns. The website or app displays profits, but withdrawals are blocked unless the victim pays additional fees, taxes, or verification charges.
- Pig Butchering Scam
The scammer builds the trust of victims over weeks or months, often through romance, friendship, or business networking. The victim is gradually persuaded, over time, to invest in a fake cryptocurrency platform. The platform promotes artificial profits, then blocks withdrawal.
- Phishing
The victim enters seed phrases, private keys, exchange credentials, or one-time passwords into a fraudulent website. The wallet or account is then drained by the scammer.
- Wallet Drainer
The victim connects a digital wallet to a malicious website or signs a malicious transaction. Tokens are transferred, or approvals are abused by the scammer.
- Fake Airdrop or Giveaway
Potential victims are told they would receive free tokens if they connected a digital wallet, send a “verification” amount, or provide seed phrases.
- Impersonation Scam
Scammers impersonate exchanges, celebrities, government agencies, lawyers, crypto support staff, or trusted friends of victims.
- Fake Mining or Staking
Victims are told they can earn passive income through cloud mining, liquidity mining, or staking. The platform they are directed to is fake or locks withdrawals.
- Pump-and-Dump or Rug Pull
Promoters build hype around a token, attract buyers, then sell their holdings or drain liquidity, causing the token price to collapse.
- Fake Crypto Loan or Recovery Fee
Victims are told they must pay fees to unlock crypto, pay taxes, activate withdrawal, or recover stolen funds. Each fee leads to another demand.
- Fake Job or Task Scam
The victim is asked to complete tasks and deposit crypto to unlock commissions or additional earnings. The platform later blocks the victim’s withdrawal.
- Online Seller Crypto Scam
The scammer seller accepts crypto payment for goods or services but never delivers.
Why Crypto Lost to Scams Is Difficult to Recover
Crypto recovery is difficult because of the following reasons:
- blockchain transactions are usually irreversible;
- wallets may be under pseudonyms;
- scammers move funds quickly;
- funds may pass through multiple wallets;
- funds may be swapped across chains;
- mixers or privacy tools may be used;
- exchanges may be foreign;
- scammers use fake identities;
- victims often delay reporting;
- scammers demand additional payments after the first loss;
- recovery scammers target victims;
- law enforcement may need cross-border cooperation.
However, recovery is not impossible. The chances for recovery improve if funds reach a regulated exchange, a local bank or e-wallet was used, a scammer is identifiable, or the victim acts quickly.
DOPAY, Your Safe and Secure Digital Wallet and Crypto Wallet
DOPAY is a relatively new app. DOPAY, through its parent company WIBS PHP INC., is regulated by the Bangko Sentral ng Pilipinas (BSP) and has licenses as an Electronic Money Issuer (EMI) and as a Virtual Asset Service Provider (VASP).
Powered by blockchain technology, DOPAY provides payment, remittance, and financial accessibility through electronic money issuance with its E-Wallet and cryptocurrency exchange with its Crypto Wallet.
DOPAY is an easy-to-use and convenient app that safeguards your information and your money through the policies and procedures required by the BSP.
With DOPAY, you have no worries that you will be a victim of a crypto scam.
DOPAY protects its customers through its complaints and disclosures procedures, its constant technology risk assessments, its compliance with BSP rules and regulations, and its religious observance of post-licensing reporting and compliance.
With DOPAY, any Filipino with the app and an approved account can send funds, receive remittances, and trade cryptocurrencies. Moreover, freelancers, BPO owners, and SMEs can hold, receive, and transfer funds and payments in global currencies through DOPAY’s large wallet sizes. App users such as digital content creators can receive payment of influencer services without exchange rate fees by utilizing the global account features of the DOPAY app.
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