Thai authorities arrested Liang Ai-Bing, a Chinese national, on October 29, 2025, at a luxury residence in Bangkok's Wang Thonglang district for allegedly orchestrating a $31 million crypto Ponzi scheme through FINTOCH. The arrest followed a coordinated intelligence operation between Thai and Chinese law enforcement, targeting one of Asia's most notorious digital currency fraud cases.
Liang had been living alone in a three-story home office since December 2024, paying approximately $4,645 monthly in rent. During the raid, police discovered an unlicensed Beretta pistol and 20 rounds of ammunition, adding weapons charges to his alleged fraud activities.
The FINTOCH scheme operated between December 2022 and May 2023, promising investors 1% daily returns while falsely claiming ownership by Morgan Stanley. Liang worked with four accomplices—Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun—with distinct roles: Liang and Tang handled platform development, while Al and Wu managed public relations and promotion. Zuo oversaw marketing operations and was arrested in China and released on bail, making him the only suspect who did not flee the country.
On-chain investigator ZachXBT exposed the exit scam in May 2023, revealing that the team withdrew 31.6 million USDT from Binance Smart Chain, which was then bridged to multiple addresses on Tron and Ethereum networks. Investors reported being unable to withdraw funds, and both Singapore's Monetary Authority and Morgan Stanley had issued public warnings denying any affiliation with FINTOCH.
The operation employed sophisticated deception tactics, including a fake CEO named Bobby Lambert, who was actually a paid actor, and obtained a CertiK audit to lend false legitimacy. In May 2023, FINTOCH held promotional events in Dubai, attracting representatives from 19 countries and featuring purported blockchain experts. The fraud network later rebranded as FinSoul, a gaming platform that allegedly exit-scammed another $1.6 million through market manipulation on BNB Smart Chain.
Liang now faces charges for illegal firearm possession, ammunition, and illegal entry into Thailand. Thai authorities are coordinating extradition proceedings with China, where he could face charges for defrauding nearly 100 victims of over 100 million yuan (approximately $14 million), though blockchain evidence suggests the total exceeded $31 million with international victims included.
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