Injustice served as justice?

[Outhue]

Some few weeks have past since some ponzi scheme runners scammed a lot of my country people, the money is so much that the government had to intervene, and the latest we had today was that some of the amount have been recovered.

Victims lost funds in USDT and BTC even Tron, but It has gotten to a point where I am starting to doubt my own law abiding country (if so). The name of these scam company is Cbex and I am sure few people on here knjw about it.

Here is where I am confused.

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

I asked why because these people paid in USDT in the first place, they must have exchange their Fiat to USDT, since the funds are recovered like they claimed they should settle them back with what was recovered.

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

[Queentoshi]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

Although there could be situations that could make arresting a criminal who is on the run and has just entered Cambodia difficult, it is not impossible, and an arrest will only not happen if the government of the certain country is really not interested in the case to pursue through the proper channels.

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

I asked why because these people paid in USDT in the first place, they must have exchange their Fiat to USDT, since the funds are recovered like they claimed they should settle them back with what was recovered.

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

I think that they should be grateful for the fact that they are even able to even be promised some amount of money back after going on to involve themselves with Ponzi scheme that has often been talked about that people should avoid.

[Zlantann]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

Recovering stolen funds can be very complicated. Even after the funds have been retrieved from criminals, it had to go through some bureaucratic process, which might include court orders for it to be sent to the owners. Another issue is that Cambodia has a high rate of corruption,  so we should expect some delay. Victims need to be patient because they also share some blame for investing in a Ponzi scheme.

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

I asked why because these people paid in USDT in the first place, they must have exchange their Fiat to USDT, since the funds are recovered like they claimed they should settle them back with what was recovered.

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

I read some articles about this issue and the EFCC boss didn't give a clear reason why they will not be paid in dollars.  It is possible he is not knowledgeable about the crypto industry.

However, the most important thing here is not the currency that victims will receive payment but for them to get back the equivalent in the local currency. They can always convert it back to the currency they prefer. For me, justice is getting back the right amount.

[Hewlet]

Never allow your funds to be stolen or else, you're going to get tossed around and yet you won't get a tangeable way out. You think all the embezzled funds that are retrieved by the government are at the end of the day accounted for? Even if it's eventually retrieved, accountability and returning it back to it rightful owner becomes another problem on it own. It's mostly like a case of money changing hands from unknown theft to a known theft.

You don't go out investing in what you're unsure of and allow your money go missing while expecting that the recovery process will be that easy. A lot of persons that falls victim don't even have a second chance of getting Thier lost money back, once it's gone it's gone for good. Ponzi scheme has eaten a lot of people but yet, ignorant and greed has always chased them back into it. If you don't want to wise up, you will continue crying for justice but will end up having none.

[Zaguru12]

I read some articles about this issue and the EFCC boss didn't give a clear reason why they will not be paid in dollars.  It is possible he is not knowledgeable about the crypto industry.

However, the most important thing here is not the currency that victims will receive payment but for them to get back the equivalent in the local currency. They can always convert it back to the currency they prefer. For me, justice is getting back the right amount.

I don’t think we need to even ask this question as to why they are been paid in another currency which I definitely know will be Naira, the country hasn’t actually legalized bitcoin or cryptocurrency and as such getting people paid in it will mean that they actually support it in their perspective. Also giving people the local fiat in their opinion is actually part of a way to actually support the use of Naira.

So ideally I don’t think the question should be related to the currency they will receive there funds in but how much they are getting back, as we know the government had the leverage not to actually hunt for this people because they were strictly warn by the government to stay away from them

[Despairo]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

There are few possibilities:

1. Your government have a secret agreement with the criminals/Cambodian government.
2. Your government don't care with their citizen.
3. Cambodian government protect the criminals.

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

The government don't want to lose by using their money to buy USDT, instead they can just print more money to recover the losses, even though it makes their fiat value decrease.

[Accardo]

They'll need interpol to trace those criminals down to Cambodia, but in most cases Ponzi schemes operators can be wide that all the funds can't be recovered. They must have spent some of the money to garner more people who would trust the fake platform. Why is it that people still fall for the Ponzi despite multiple news of formal operators being fake and dishonest?

[peter0425]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

They can but it will just be hard because they are obviously under a different jurisdiction and both countries would need to work together to get to an agreement and get the criminals back to the country.

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

I asked why because these people paid in USDT in the first place, they must have exchange their Fiat to USDT, since the funds are recovered like they claimed they should settle them back with what was recovered.

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

It will only be fair to be compensated with the equivalent amount of what you’ve lost. Even if it’s not stablecoin, victims should be given the same amount otherwise it would be quite unfair but that’s just my two cents.

[Orpichukwu]

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

Someone who falls victim to a scam has less to worry about concerning which method his or her money is being used to return to its control. There is little to worry about here; if the country agency claims are true, they should start processing the repayment to the victims in whatever method they consider to be convenient for them. What matters is that the money gets down to the hands of those who were affected.

[sheenshane]

They'll need interpol to trace those criminals down to Cambodia..

I tend to agree, it’s not that criminals can’t be arrested there, but it is often more difficult and time-consuming.
Agencies like Interpol can assist, but it requires coordinated and persistent effort.
Unfortunately, scam cases that cross multiple countries often become complicated in this way.

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

Possible.
Inflation of fiat currency might make returning exact crypto amounts tricky if the recovered funds are held or liquidated at different times.  Plus, some jurisdictions don’t have clear legal frameworks to return crypto directly to victims, or it may be difficult to manage wallets or addresses securely on a large scale.

[Davidvictorson]

I tend to agree, it’s not that criminals can’t be arrested there, but it is often more difficult and time-consuming.
Agencies like Interpol can assist, but it requires coordinated and persistent effort.
Unfortunately, scam cases that cross multiple countries often become complicated in this way.

I agree too but this is going to be one long case and in my estimation since this is not of any particular interest to the government, they will drag their feet until the case is forgotten. Dragging their feet include not putting it as a number priority, secondly not allocating resources and manpower to work the case. Slowness in collaborating and coordinating with interpol. Before anything is done, most of the victims of this fraud would have forgotten about their money and moved on.

[tottong]

I asked why because these people paid in USDT in the first place, they must have exchange their Fiat to USDT, since the funds are recovered like they claimed they should settle them back with what was recovered.

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

It should be like this and the payment made should be based on what they stole, but if for some reason maybe we can see each country will require payment to be made in local currency especially if cases like this have entered the realm of law and are handled by the authorities.
However the payment made should be proportional to the value of the currency and that would be much wiser there than them ignoring and not recovering the funds.
Sometimes talking about justice is not just about the amount to be paid, but the injured party should receive appropriate compensation, neither more nor less.
If this has been implemented maybe in the future victims should be more careful in storing whatever they have as a security measure.

[DanWalker]

I don't think this is fair justice served, BTC should be paid back in BTC likewise USDT, do you think otherwise? Drop your reason.

This is not only happening in your country because this world has never been fair. This even happens in the country considered to have the highest freedom and human rights. Remember the FTX bankruptcy? Even though they will compensate the victims, did you know they will only compensate in USD and the value calculated at the time of their bankruptcy, not in assets like BTC or altcoins that they stole from investors? If I remember correctly bitcoin price was around $18k and ETH price was around $1,2k at the time they declared bankruptcy. Is it fair? NO.

So let us protect ourselves from scams by curbing greed and constantly improving our knowledge. Don't expect the government or anyone to stand up for us and bring justice to us.


https://www.theblockbeats.info/en/news/56566

[Sticky Bomb]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

Recovering stolen funds can be very complicated. Even after the funds have been retrieved from criminals, it had to go through some bureaucratic process, which might include court orders for it to be sent to the owners. Another issue is that Cambodia has a high rate of corruption,  so we should expect some delay. Victims need to be patient because they also share some blame for investing in a Ponzi scheme.

My brother, you and I know that this money isn't coming back to the investors. We've seen these kinds of stories earlier and nothing happened. What of Barazzer that was arrested? Are were still hearing anything about it? It's in the past now.

We live in a wonderful country where a little settlement can make a guilty man innocent and vice versa. My advice to those that lost their funds is to just forget it and move on. The funds are as good as drowned.

Mark my words, nobody is actually getting paid back a dime. Which database would they utilize in paying back the funds? Did they seize any from the criminals? How would they get accurate refunding data of the wallet addresses concerned? Even if there would be a refund, it's for the bigger boys who have good influence in the government and not everyone.

[blockman]

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

I think that I have an understanding of this scam circle that is in that country. Because last year, there were reports that fellow countrymen were recruited with an assurance of having a good job in that country but it tends out that they'll become scam agents by a big syndicate that's operating in Asia. Yes, not only in Cambodia but in several parts of our continent. And for them to get freed, they'll have to pay the syndicate so that they can be out. If they are not hitting quotas of scam, they'll be hit physically. These criminals can still be arrested but I think in that particular area where they are operating is like a lawless land. That's why they're protected by probably government officials that they're feeding scam money as well. So, going there is risky and trying to take that money back and the details could also be faked if they're really in that area.

[Marvell1]

1. Cambodia has some special areas called autonomous zones and even the government cannot interfere. Of course there is a tacit agreement, there are many interest groups behind it so it is not easy to intervene. Your government is not wrong and not lying when it says that once those scammers enter Cambodia, it will be very difficult to pursue them.

2. Did you know that criminals often launder assets or spend them in different ways? This means that even if the government confiscates those assets, they will not remain intact or have been converted into other assets. That would make asset inventory extremely complicated, so the proposal to pay in fiat currency is considered reasonable and fair.

[Oluwa-btc]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

Even with it being recovered people will still fall victims of this Ponzi scheme not withstanding the news and stories they've heard about them. The problem with this high rate of scammers is because people prefer to go into things that gives them quick money in no time so no matter what they'll still want to give a try and have themselves regrets overtime, amidst the fund recovery no one will have their exact funds. A lesson to All.

[davis196]

1. They claimed that the scam runners are been tracked down to Cambodia and it will be extremely hard from this point to get the rest of the money back.

My question IS, does this mean that any criminal that entered Cambodia can't be arrested?

2. They also said that the fund recovered can't be paid back in USDT probably because of the inflation of the fiat currency in the country? But why?

1.Cambodia probably doesn't have an extradition agreement with your country. This doesn't mean that the scammers can't get arrested, but moving them back to your country(if they ever get arrested) will be a slow and tedious process(in most cases).

2.How did the government find money to pay the victims of the scam? Did the government confiscate the crypto, which was gathered by the scammers, or the government is paying back the victims with taxpayer's money. I can assume that in your country's legislation there's no option to pay back the money of scam victims in the form of cryptocurrencies.

[Obulis]

This is a deeply frustrating situation for the victims.
Not that it is not possible to arrest criminals who runs to Cambodia, but
International law is quite complex. Arresting individuals in some countries require more diplomatic cooperation making it a bit difficult not that it can't happen.
As the government, they love operating in there legal tender in the first place recovered crypto can even be converted to fiat

[Strongkored]

I have heard that Cambodia is a big gambling place and attracts many foreigners to work there, I did not know that they are also a place for scammers to take refuge.
However, regarding whether the criminals can be brought to your country to be tried and imprisoned will depend on the agreement between the two countries. It could be that the criminals understand that there is no extradition agreement so they choose Cambodia as a refuge.

Indeed, strange about this case so that it raises suspicion, but just take the positive side if the funds can really be taken and returned to the citizens who were deceived, that is good enough.