How a retired Aussie cop lost $1.2M in a crypto scam in Thailand

As the adoption of digital assets grows rapidly, there has been a significant increase in the amount of funds lost to scams and hacks.

In the fast-evolving landscape of blockchain and the digital assets ecosystem, stories of overnight riches often overshadow the darker side: sophisticated scams that prey on the inexperience and trust of victims. 

One such cautionary tale unfolded in Thailand when a retired Australian police officer, Michael Reinecke, reported to the authorities on July 18, 2025, that he had fallen victim to a cryptocurrency scam that cost him nearly 40 million Thai baht, approximately $1.2 million. 

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