Alleged FINTOCH Mastermind Arrested in Thailand for $31M Crypto Scam
Zach Anderson Oct 31, 2025 06:41
Thai authorities apprehend Liang Ai-Bing, accused of orchestrating a $31 million cryptocurrency Ponzi scheme across Asia, marking a significant breakthrough in crypto fraud investigations.
In a major breakthrough for international law enforcement, Thai police have arrested Liang Ai-Bing, a Chinese national suspected of orchestrating a $31 million Ponzi scheme through the FINTOCH platform. The arrest took place in Bangkok on October 29, 2025, following a coordinated effort between Thai and Chinese authorities, according to CryptoNews.
The FINTOCH Deception: A Multi-Million Dollar Fraud Network
Liang, along with accomplices Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun, is accused of developing FINTOCH, a fraudulent platform promising 1% daily returns by falsely claiming ties to investment giant Morgan Stanley. The scheme, which operated between December 2022 and May 2023, attracted victims across Asia before its dramatic collapse.
The fraudulent operation was meticulously organized, with Liang and Tang handling platform development, while Al and Wu focused on public relations and promotion. Zuo managed marketing before his arrest in China, where he remains the only suspect who did not flee.
On-chain investigator ZachXBT exposed the scheme’s downfall in May 2023, when the perpetrators allegedly withdrew 31.6 million USDT from Binance Smart Chain, bridging the funds across multiple addresses on Tron and Ethereum networks as investors reported withdrawal failures.
From Actors to Assets
To lend credibility to the scam, FINTOCH utilized sophisticated tactics, including hiring actors to portray key roles. The website falsely presented “Bobby Lambert” as the CEO, while the team secured a CertiK audit, exploiting investor trust in third-party security assessments. Promotional events in Dubai further bolstered the facade, featuring reputed blockchain experts and representatives from 19 countries.
Following the collapse of FINTOCH, the fraud network attempted to rebrand under the name FinSoul, which led to another alleged exit scam involving $1.6 million. The FinSoul token, launched on the BNB Smart Chain, saw a rapid surge before crashing, as the team drained funds from the liquidity pool.
Justice Across Borders
Liang now faces multiple charges, including illegal firearm possession and ammunition charges in Thailand, alongside potential extradition to China for defrauding victims of over 100 million yuan, approximately $14 million. Blockchain evidence indicates the fraud's reach extended globally, with total losses potentially exceeding $31 million.
This arrest highlights the increasing prevalence of crypto-related fraud across Asia. Notably, in March, Thai authorities arrested Wu Di, another Chinese national, for a $17.7 million crypto scam, and most recently, Zhimin Qian pled guilty in the UK to charges related to a $6.7 billion crypto seizure.
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