MasterMind Of FINTOCH Arrested In Luxury Home In Thailand

Thai authorities have arrested Liang Ai-Bing, a Chinese national believed to be the mastermind behind the $31 million FINTOCH exit scam, following a coordinated intelligence operation between Thai and Chinese law enforcement.

Liang was captured on October 29, 2025, at a luxury residence in Bangkok’s Wang Thonglang district, where he had been living alone since late 2024, paying approximately $4,645 per month in rent.

During the raid, police discovered an unlicensed Beretta pistol and 20 rounds of ammunition, adding weapons charges to the growing list of allegations, including large-scale financial fraud and illegal entry into Thailand.

Authorities said the arrest marks a major breakthrough in the hunt for one of Asia’s most notorious cryptocurrency scam networks.

Inside The FINTOCH Fraud Network

Investigators allege that Liang, along with accomplices Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun, launched the FINTOCH platform between December 2022 and May 2023. The project promised investors 1% daily returns—a hallmark of Ponzi-style schemes—while disguising itself behind a veneer of corporate legitimacy.

To build credibility, the group falsely claimed that Morgan Stanley was a major shareholder, deceiving investors across multiple Asian countries. Liang’s team also hired paid actors to portray company executives. One such figure, “Bobby Lambert,” was presented as FINTOCH’s CEO but was later revealed to be an actor with no ties to the financial sector.

In a further bid to appear legitimate, the scammers falsified a CertiK audit, exploiting investor trust in the blockchain security firm’s name.

In May 2023, FINTOCH even hosted a high-profile Dubai event, featuring supposed global blockchain leaders and announcing ambitious plans for an FTC public chain and a Nasdaq listing—both entirely fabricated.

Behind the scenes, the operation was highly organized. Liang and Tang oversaw platform development, Al and Wu managed communications and promotions, while Zuo led marketing efforts.

The scam’s unraveling began when blockchain investigator ZachXBT traced more than 31 million USDT being withdrawn and moved across the Tron and Ethereum networks as users reported withdrawal failures.

Regulatory authorities, including Singapore’s Monetary Authority and Morgan Stanley, had already issued public warnings about FINTOCH before its collapse. Morgan Stanley explicitly denied any affiliation with the project or any related social media activity.

A Pattern Of Deception

After FINTOCH’s collapse, Liang and his team attempted to rebrand their operations under new names. In October 2023, they launched FinSoul, a blockchain gaming project that allegedly exit-scammed another $1.6 million through market manipulation and fake executive profiles.

Security analysts later confirmed that the same individuals were behind FINTOCH, FinSoul, and Standard Cross Finance, revealing a recurring pattern of deception that relied heavily on marketing theatrics and fabricated identities.

Liang now faces multiple charges, including illegal possession of firearms, ammunition, and unlawful entry into Thailand. Extradition proceedings are underway to return him to China, where he is accused of defrauding nearly 100 victims of more than 100 million yuan. Blockchain evidence, however, suggests the total global losses could exceed $31 million.

Liang’s arrest is part of a broader crackdown on crypto-related crime across Asia. Recent high-profile cases include Wu Di’s $17.7 million Facebook investment scam and Zhimin Qian’s $6.7 billion crypto fraud in the UK. These cases underscore a troubling trend—fraudsters are exploiting the rapid growth of the blockchain industry and investors’ eagerness to profit from it.

In my view, the FINTOCH case serves as a wake-up call for both regulators and investors. While blockchain promises transparency, bad actors continue to manipulate its trust-based ecosystem through fabricated audits, fake partnerships, and celebrity-style promotions. Strengthening investor education and fostering global regulatory collaboration will be key to ensuring the industry’s growth doesn’t come at the cost of credibility.