Alleged Mastermind Behind $31M FINTOCH Exit Scam Arrested in Thailand
Thai authorities arrested Liang Ai-Bing, a Chinese nationwide accused of orchestrating a $31 million crypto Ponzi scheme, at a luxurious Bangkok residence on October 29, 2025.
According to a local report, the arrest follows a coordinated intelligence operation between Thai and Chinese legislation enforcement focusing on considered one of Asia’s most infamous digital forex fraud circumstances.
Liang had been residing alone in a three-story house workplace in Wang Thonglang district since December 2024, paying roughly $4,645 month-to-month in hire.
Police found an unlicensed Beretta pistol and 20 rounds of ammunition through the raid, including weapons prices to his alleged fraud actions.
The FINTOCH Deception: A Multi-Million Dollar Fraud Network
Chinese authorities allege Liang labored with 4 accomplices, Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun, to create FINTOCH between December 2022 and May 2023.
The fraudulent platform promised traders 1% every day returns whereas falsely claiming possession by funding big Morgan Stanley.
The scheme attracted victims throughout a number of Asian nations earlier than collapsing spectacularly.
The operation was methodically organized with distinct roles. Liang and Tang dealt with platform improvement whereas Al and Wu managed public relations and promotion.
Zuo oversaw advertising operations earlier than being arrested by Chinese authorities and launched on bail, making him the one suspect who didn’t flee the nation.
The division of labor allowed the group to keep up an expert facade whereas systematically defrauding traders.
On-chain investigator ZachXBT exposed the scheme’s collapse in May 2023, when the group exit-scammed, withdrawing 31.6 million USDT from Binance Smart Chain.
The stolen funds have been bridged throughout a number of addresses on Tron and Ethereum networks as traders concurrently reported withdrawal failures.
Both Singapore’s Monetary Authority and Morgan Stanley had issued public warnings concerning the scheme earlier than its collapse, with Morgan Stanley explicitly stating it had no affiliation with FINTOCH and doesn’t conduct enterprise by social media or cellular purposes.
From Actors to Assets
The FINTOCH operation employed refined deception techniques that prolonged past conventional fraud strategies.
The web site featured “Bobby Lambert” as CEO, although he was really a paid actor with no connection to monetary companies.
The fraudulent group even obtained a CertiK audit to lend legitimacy to their operation, exploiting traders’ belief in third-party safety assessments.
The scheme held promotional events in Dubai in May 2023, attracting representatives from 19 nations and that includes purported blockchain consultants lending false credibility.
William, listed as Chairman of FINTOCH’s Board of Directors, introduced plans for an FTC public chain and claimed the corporate would record on NASDAQ.
The occasion featured speeches by alleged representatives of the United Nations World Blockchain Group, which additional enhanced the phantasm of legitimacy.
The fraud community later tried to proceed operations by rebranded initiatives.
In October 2023, the same team launched FinSoul, a gaming platform that allegedly exit scammed one other $1.6 million by market manipulation.
Security agency CertiK recognized equivalent executives between FINTOCH and the rebranded Standard Cross Finance, all of whom have been confirmed as leisure business actors slightly than monetary professionals.
The FinSoul token was deployed on BNB Smart Chain, buying and selling at $0.39 earlier than surging to $17.57, solely to break down to almost zero inside hours because the group drained $1.6 million in USDT from the liquidity pool.
Justice Across Borders
Liang now faces unlawful firearm possession, ammunition prices, and unlawful entry into Thailand as a international nationwide.
Thai authorities are coordinating extradition proceedings with Chinese officers, throughout which he might face prices associated to defrauding practically 100 victims of over 100 million yuan, roughly $14 million, in line with Chinese reviews.
However, blockchain proof suggests the entire quantity exceeded $31 million when worldwide victims are included.
Notably, Liang’s arrest comes amid an escalating wave of crypto-related fraud circumstances throughout Asia.
Back in March, Thai authorities also apprehended Wu Di, a 27-year-old Chinese lady accused of stealing over $17.7 million by Facebook-based funding scams over two months.
In reality, most just lately, Zhimin Qian, one other Chinese nationwide in the UK, pleaded guilty to her role in the world’s largest crypto seizure, totaling greater than $6.7 billion.
A Chinese nationwide has pleaded responsible to her position in the world’s largest crypto seizure, totaling greater than £5 billion ($6.7 billion). #China #Bitcoinhttps://t.co/3byVtWlilX
— Cryptonews.com (@cryptonews) September 30, 2025
Qian masterminded an funding rip-off in China between 2014 and 2017, focusing on over 128,000 victims earlier than UK authorities seized 61,000 BTC.
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