How a Bangkok arrest cracked open the $31 million FINTOCH crypto fraud
The post How a Bangkok arrest cracked open the $31 million FINTOCH crypto fraud appeared on BitcoinEthereumNews.com.
The FINTOCH platform falsely claimed ties to Morgan Stanley and promised 1% daily returns. Investigators found $31.6 million in USDT moved across Binance Smart Chain, Tron, and Ethereum. Liang lived alone in a luxury Bangkok home, where police found an illegal firearm. Thai and Chinese authorities have arrested a Chinese national in Bangkok linked to one of the largest decentralised finance scams of 2023. The suspect, identified as Liang Ai-Bing, was detained over his alleged role in a cryptocurrency Ponzi scheme that defrauded nearly 100 investors of more than $31 million. The case, involving the FINTOCH platform, as per a BeInCrypto report, exposes how cross-border coordination and blockchain analysis are reshaping global efforts to combat crypto-related crimes. Inside the FINTOCH scam Liang Ai-Bing was arrested on Wednesday in an upscale Bangkok neighbourhood after a coordinated intelligence operation between Thai and Chinese authorities. The FINTOCH platform, also known as Morgan DF Fintoch, operated between December 2022 and May 2023, falsely marketing itself as a legitimate decentralised finance project. It claimed to be affiliated with global investment bank Morgan Stanley — an association that Morgan Stanley publicly denied in 2023. The fraudulent platform promised investors daily returns of 1% and presented a fictional chief executive named Bob Lambert, whose photo turned out to be that of an American actor, Mike Provenzano. The Monetary Authority of Singapore had already issued a warning about the platform in early May 2023, weeks before it vanished with millions in investor funds. Investigators later revealed the scam was orchestrated by five individuals, including Liang. The other suspects were identified as Ai Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun. While Zuo was detained in China and later released on bail, the remaining suspects fled across borders after the exit scam in May 2023. Blockchain trail and digital…
Filed under: News - @ October 30, 2025 12:26 pm