Zach Anderson
Oct 31, 2025 06:41
Thai authorities apprehend Liang Ai-Bing, accused of orchestrating a $31 million cryptocurrency Ponzi scheme throughout Asia, marking a major breakthrough in crypto fraud investigations.
In a significant breakthrough for worldwide regulation enforcement, Thai police have arrested Liang Ai-Bing, a Chinese language nationwide suspected of orchestrating a $31 million Ponzi scheme via the FINTOCH platform. The arrest happened in Bangkok on October 29, 2025, following a coordinated effort between Thai and Chinese language authorities, in line with CryptoNews.
The FINTOCH Deception: A Multi-Million Greenback Fraud Community
Liang, together with accomplices Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun, is accused of growing FINTOCH, a fraudulent platform promising 1% day by day returns by falsely claiming ties to funding large Morgan Stanley. The scheme, which operated between December 2022 and Might 2023, attracted victims throughout Asia earlier than its dramatic collapse.
The fraudulent operation was meticulously organized, with Liang and Tang dealing with platform growth, whereas Al and Wu targeted on public relations and promotion. Zuo managed advertising and marketing earlier than his arrest in China, the place he stays the one suspect who didn’t flee.
On-chain investigator ZachXBT uncovered the scheme’s downfall in Might 2023, when the perpetrators allegedly withdrew 31.6 million USDT from Binance Good Chain, bridging the funds throughout a number of addresses on Tron and Ethereum networks as buyers reported withdrawal failures.
From Actors to Property
To lend credibility to the rip-off, FINTOCH utilized subtle techniques, together with hiring actors to painting key roles. The web site falsely introduced “Bobby Lambert” because the CEO, whereas the workforce secured a CertiK audit, exploiting investor belief in third-party safety assessments. Promotional occasions in Dubai additional bolstered the facade, that includes reputed blockchain specialists and representatives from 19 international locations.
Following the collapse of FINTOCH, the fraud community tried to rebrand beneath the title FinSoul, which led to a different alleged exit rip-off involving $1.6 million. The FinSoul token, launched on the BNB Good Chain, noticed a fast surge earlier than crashing, because the workforce drained funds from the liquidity pool.
Justice Throughout Borders
Liang now faces a number of prices, together with unlawful firearm possession and ammunition prices in Thailand, alongside potential extradition to China for defrauding victims of over 100 million yuan, roughly $14 million. Blockchain proof signifies the fraud’s attain prolonged globally, with complete losses probably exceeding $31 million.
This arrest highlights the rising prevalence of crypto-related fraud throughout Asia. Notably, in March, Thai authorities arrested Wu Di, one other Chinese language nationwide, for a $17.7 million crypto rip-off, and most just lately, Zhimin Qian pled responsible within the UK to prices associated to a $6.7 billion crypto seizure.
Picture supply: Shutterstock
