A Chinese national was arrested in Bangkok on Thursday, after police acted on a search warrant linked to an alleged cryptocurrency Ponzi scheme that netted more than 100 million yuan — about $14 million.
The man, identified as Liang Ai-ping, was found living in a three-storey house in the Wang Thonglang area, and officers found an unlicensed Beretta pistol with 20 rounds of ammunition at the scene.
Operation and arrest
Reports It revealed that Liang and four other suspects created a platform called FINTOCH between December 2022 and May 2023.
Authorities say the group used mobile phone applications to attract money from investors. Names linked to the case include Al Qinghua, Wu Jiangyan, Tang Zhenqiu, and Zhou Lijun.
On October 29, 2025, officers from Police 191 carried out a raid at a high-end three-story home office in Bangkok’s Wang Thonglang district, leading to the arrest of a Chinese national accused of fraud.
Based on reports, the five reportedly left the country except Zhou, who left the country Arrested He was earlier released on bail awaiting trial. At the Bangkok residence, police noticed that the monthly rent had risen by 150,000 baht, or about $4,645.
Cryptocurrency scam: cross-border cooperation
Thai and Chinese officials exchanged intelligence that led to the arrest. Legal steps after detention were not detailed in initial accounts, and it remains unclear whether extradition or formal charges will be filed in either country.
Some details are still missing, such as how many people invested, the exact methods used to promise and pay out the returns, and whether any of the funds have been traced or frozen yet. The presence of a firearm on the property may result in additional legal charges being considered.
Evidence and open questions
Authorities say the platform operated for about six months. It has not been confirmed how the victims were recruited. Reports revealed only the broad outlines: an app-based scheme that promised returns and earned more than 100 million yuan.
Investigators typically need to trace transfers, exchange records, and cryptocurrency wallets to see how much can be recovered. This work can take months, especially when funds cross borders and move across multiple accounts or currencies.
When arrests happen, it doesn’t always mean victims get their money back. Asset recovery requires frozen accounts, cooperation from exchanges and court orders in many countries.
Featured image from Unsplash, chart from TradingView
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