A Chinese language nationwide was arrested in Bangkok on Thursday, after police moved on a search warrant tied to an alleged crypto Ponzi scheme that took in additional than 100 million yuan — roughly $14 million.
The person, named Liang Ai-Bing, was discovered residing in a three-storey home within the Wang Thonglang district, and officers recovered an unlicensed Beretta pistol with 20 rounds of ammunition on the scene.
Operation And Arrest
Studies have disclosed that Liang and 4 different suspects arrange a platform referred to as FINTOCH between December 2022 and Might 2023.
Authorities say the group used cell apps to draw cash from buyers. Names linked to the case embrace Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que and Zuo Lai-Jun.
On October 29, 2025, officers from Police 191 carried out a raid at a high-end three-story dwelling workplace in Bangkok’s Wang Thonglang district, resulting in the arrest of a Chinese language nationwide accused of fraud.
Based mostly on experiences, all 5 reportedly left the nation besides Zuo, who was arrested earlier and later launched on bail pending trial. On the Bangkok residence, police famous a excessive month-to-month hire of 150,000 baht, which is about $4,645.
Crypto Rip-off: Cross Border Cooperation
Thai and Chinese language officers shared intelligence that led to the arrest. Authorized steps past the detention weren’t detailed in preliminary accounts, and it’s nonetheless unclear whether or not extradition or formal prices shall be filed in both nation.
Some particulars stay lacking, corresponding to how many individuals invested, the precise strategies used to vow and pay returns, and whether or not any of the cash has been tracked or frozen up to now. The presence of a firearm on the property might result in extra authorized counts being thought-about.
Proof And Open Questions
Authorities say the platform operated for roughly six months. How victims have been recruited has not been confirmed. Studies have disclosed solely the broad define: an app-based scheme that promised returns and took in additional than 100 million yuan.
Investigators usually must hint transfers, trade data and crypto wallets to learn the way a lot is recoverable. That work can take months, particularly when funds cross borders and transfer by way of a number of accounts or currencies.
When arrests occur, they don’t all the time imply victims get their a refund. Recovering belongings requires frozen accounts, cooperation from exchanges, and court docket orders in a number of nations.
Featured picture from Unsplash, chart from TradingView
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