Overview
- Thai and Chinese police coordinated to detain Chinese national Liang Ai-Bing at a three-storey home in Bangkok’s Wang Thonglang district.
- Investigators link him to FINTOCH, a DeFi scheme that ran from December 2022 to May 2023 promising 1% daily returns and falsely invoking Morgan Stanley with a fabricated CEO persona.
- On-chain analysis by ZachXBT traced roughly 31.6 million USDT withdrawn on Binance Smart Chain and routed through Tron and Ethereum, while local reports cite losses of about 100 million yuan (around $14 million).
- Police say an unlicensed pistol was seized and Liang faces charges including unlawful entry and weapons offenses, with discussions under way to extradite him to China for fraud proceedings.
- Chinese authorities have named four other suspects — Ai Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que and Zuo Lai-Jun — with Zuo previously arrested in China and released on bail as efforts to recover funds continue.