Thai police have arrested Liang Ai-Bing, a Chinese national suspected of orchestrating a massive cryptocurrency fraud that defrauded nearly 100 victims of more than $14 million. Liang, 38, was captured on October 29, 2025, inside a luxury three-storey home in Wang Thonglang, Bangkok, following a joint operation between Thai and Chinese authorities. He had reportedly been living there since December 2024, paying around 150,000 baht ($4,645) per month in rent.
Investigators say Liang and four partners — Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun — launched a fake investment platform called FINTOCH between December 2022 and May 2023. The site falsely promised huge profits from crypto lending and staking, but instead operated as a Ponzi scheme, draining investor funds before collapsing.
To appear legitimate, the team fabricated a CEO named “Bob Lambert” using a stolen photo of U.S. actor Mike Provenzano. Despite warnings from the Monetary Authority of Singapore (MAS) in May 2023, investors continued funding the scheme, which ultimately stole over $31 million. Blockchain analytics firm Immunefi later reported that the FINTOCH rug pull contributed significantly to a 63% surge in crypto thefts in Q2 2023.
Police searching Liang’s home found an unlicensed Beretta pistol, 20 bullets, and multiple electronic devices believed to contain evidence of money transfers and online communications with his co-conspirators. Liang faces charges for illegal firearm possession and unlawful entry into Thailand. Authorities confirmed they are working with China to extradite him for trial.
Prominent on-chain investigator ZachXBT exposed the scam in May 2023, posting: “It appears the team behind the ponzi DFintoch has likely exit scammed with 31.6m USDT… after the funds were bridged to multiple addresses.” According to investigators, Liang and Tang handled FINTOCH’s tech and finances, while Al and Wu managed promotions. Zuo led marketing efforts that drew thousands of unsuspecting investors.
Liang’s arrest highlights a growing pattern of China-linked crypto fraud across Asia. Recent cases include a $166 million scam uncovered in Beijing, where five people were sentenced in October 2025; the U.S. forfeiture case against Cambodian tycoon Chen Zhi involving 127,271 Bitcoin (worth $14.2 billion); India’s Enforcement Directorate tracing over Rs 28,000 crore ($3.3 billion) in crypto-linked loan scams; and Nigeria’s EFCC deporting 102 foreign nationals for cyber and crypto crimes in August 2025.
Liang’s capture marks a major win for international law enforcement. The FINTOCH scam serves as a reminder that even sophisticated marketing, fake CEOs, and social media buzz can hide criminal intent — a warning for investors chasing quick profits in crypto markets.
