Alleged Mastermind Behind $31M FINTOCH Exit Rip-off Arrested in Thailand

Thai authorities arrested Liang Ai-Bing, a Chinese language nationwide accused of orchestrating a $31 million crypto Ponzi scheme, at a luxurious Bangkok residence on October 29, 2025.

In line with an area report, the arrest follows a coordinated intelligence operation between Thai and Chinese language legislation enforcement focusing on certainly one of Asia’s most infamous digital forex fraud instances.

Liang had been residing alone in a three-story dwelling workplace in Wang Thonglang district since December 2024, paying roughly $4,645 month-to-month in lease.

Police found an unlicensed Beretta pistol and 20 rounds of ammunition through the raid, including weapons costs to his alleged fraud actions.

The FINTOCH Deception: A Multi-Million Greenback Fraud Community

Chinese language 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 Could 2023.

The fraudulent platform promised buyers 1% day by day returns whereas falsely claiming possession by funding big Morgan Stanley.

The scheme attracted victims throughout a number of Asian international locations earlier than collapsing spectacularly.

The operation was methodically organized with distinct roles. Liang and Tang dealt with platform growth whereas Al and Wu managed public relations and promotion.

Zuo oversaw advertising and marketing operations earlier than being arrested by Chinese language authorities and launched on bail, making him the one suspect who didn’t flee the nation.

The division of labor allowed the staff to keep up knowledgeable facade whereas systematically defrauding buyers.

On-chain investigator ZachXBT uncovered the scheme’s collapse in Could 2023, when the staff exit-scammed, withdrawing 31.6 million USDT from Binance Sensible Chain.

The stolen funds had been bridged throughout a number of addresses on Tron and Ethereum networks as buyers concurrently reported withdrawal failures.

Each Singapore’s Financial 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 cell functions.

From Actors to Belongings

The FINTOCH operation employed refined deception ways that prolonged past conventional fraud strategies.

The web site featured “Bobby Lambert” as CEO, although he was truly a paid actor with no connection to monetary companies.

The fraudulent staff even obtained a CertiK audit to lend legitimacy to their operation, exploiting buyers’ belief in third-party safety assessments.

The scheme held promotional occasions in Dubai in Could 2023, attracting representatives from 19 international locations and that includes purported blockchain specialists lending false credibility.

William, listed as Chairman of FINTOCH’s Board of Administrators, introduced plans for an FTC public chain and claimed the corporate would checklist 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 identical staff launched FinSoul, a gaming platform that allegedly exit scammed one other $1.6 million by market manipulation.

Safety agency CertiK recognized similar executives between FINTOCH and the rebranded Commonplace Cross Finance, all of whom had been confirmed as leisure business actors somewhat than monetary professionals.

The FinSoul token was deployed on BNB Sensible Chain, buying and selling at $0.39 earlier than surging to $17.57, solely to break down to almost zero inside hours because the staff drained $1.6 million in USDT from the liquidity pool.

Justice Throughout Borders

Liang now faces unlawful firearm possession, ammunition costs, and unlawful entry into Thailand as a overseas nationwide.

Thai authorities are coordinating extradition proceedings with Chinese language officers, throughout which he may face costs associated to defrauding almost 100 victims of over 100 million yuan, roughly $14 million, in keeping with Chinese language experiences.

Nevertheless, blockchain proof suggests the overall quantity exceeded $31 million when worldwide victims are included.

Notably, Liang’s arrest comes amid an escalating wave of crypto-related fraud instances throughout Asia.

Again in March, Thai authorities additionally apprehended Wu Di, a 27-year-old Chinese language girl accused of stealing over $17.7 million by Fb-based funding scams over two months.

Actually, most just lately, Zhimin Qian, one other Chinese language nationwide within the UK, pleaded responsible to her position on the planet’s largest crypto seizure, totaling greater than $6.7 billion.

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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