The arrest of Chinese national Liang Ai-Bing, the alleged mastermind behind the $31 million FINTOCH crypto Ponzi scheme, in a luxury Bangkok home on October 29, 2025, marks a significant breakthrough in one of Asia’s most high-profile digital currency fraud cases. According to local reports, this apprehension resulted from a coordinated intelligence operation involving both Thai and Chinese law enforcement agencies.
Liang had been residing alone in a three-story home office in the Wang Thonglang district since December 2024, paying a hefty monthly rent of approximately $\mathbf{\$4,645}$. The raid on the property also uncovered an unlicensed Beretta pistol and 20 rounds of ammunition, adding serious weapons charges to his list of alleged fraud activities.Chinese authorities allege that Liang and four accomplices—Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun—collaborated to establish FINTOCH between December 2022 and May 2023.
This fraudulent platform lured investors by falsely promising 1% daily returns while deceptively claiming affiliation with the renowned investment giant Morgan Stanley. The scheme successfully attracted victims across numerous Asian countries before it eventually and dramatically collapsed. Before its demise, both Singapore’s Monetary Authority and Morgan Stanley had issued public warnings, with Morgan Stanley explicitly denying any association with FINTOCH or conducting business via social media and mobile apps.The FINTOCH operation was characterized by a methodical organizational structure with clear divisions of labor. Liang and Tang were responsible for the technical platform development, while Al and Wu concentrated on public relations and promotion to attract new victims.
Zuo was in charge of overall marketing operations until his arrest by Chinese authorities; he was later released on bail, making him the only one of the alleged conspirators who did not flee the country. This precise division of labor enabled the group to maintain a highly professional and convincing facade while systematically defrauding investors on a massive scale.The scheme’s collapse was definitively exposed in May 2023 by on-chain investigator ZachXBT. At that time, the group executed an “exit scam,” withdrawing 31.6 million USDT from the Binance Smart Chain. As victims simultaneously began reporting complete failure to withdraw their own funds, the stolen assets were quickly bridged across multiple addresses on both the Tron and Ethereum networks in an attempt to obscure the trail.
This coordinated digital maneuver underscored the sophisticated and premeditated nature of the fraud.Liang Ai-Bing’s arrest in Thailand closes a key chapter in the international manhunt for the FINTOCH principals. While the discovery of the unlicensed firearm complicates his extradition and legal process in Thailand, the successful coordination between the two nations’ intelligence bodies sends a strong message regarding cross-border cooperation in the fight against digital currency fraud. The focus now shifts to the recovery of the stolen funds and the pursuit of the remaining alleged accomplices who remain at large.
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