Thailand Arrests $31M Crypto Ponzi Mastermind Liáng Ai-Bing

Thai authorities arrested Chinese national Liang Ai-Bing in Bangkok, identifying him as the mastermind behind the FINTOCH crypto Ponzi scheme, which defrauded nearly 100 investors of over $31 million. The scheme falsely promised daily returns of 1%, claimed a fake association with Morgan Stanley, and used a fictional CEO to lure victims. The platform operated from December 2022 to May 2023, moving approximately $31.6 million in USDT through various blockchain networks, as revealed by on-chain investigations. The arrest followed joint intelligence efforts between Thai and Chinese law enforcement, with other suspects either arrested or having fled. Separately, a South African man rescued from a Myanmar scam center was found imprisoned in Bangkok, highlighting broader regional issues with scam operations. In Singapore, Alvin Koo Jing You was sentenced to seven years for a separate investment scam involving over S$7 million, demonstrating widespread fraudulent activity in Southeast Asia.