What happened?
Thai authorities arrested Liang Ai‑Bing at a luxury Bangkok home on October 29, 2025, accusing him of masterminding the FINTOCH crypto Ponzi that stole millions. Police found an unlicensed Beretta and ammunition and say Liang worked with accomplices who ran a polished scam that promised 1% daily returns while impersonating institutions and hiring actors. Blockchain investigators say the team exit‑scammed roughly $31 million in USDT in May 2023 and later tried to continue operations under rebrands like FinSoul, which also drained investor funds.
Who does this affect?
The primary victims are retail investors across Asia and beyond who were lured by guaranteed returns and lost money when the platform collapsed. It also drags in service providers and platforms—security auditors, exchanges, bridges, and marketing channels—that were used, spoofed, or gave the project apparent legitimacy. Regulators, law enforcement, and legitimate crypto businesses are affected too, since cross‑border arrests and extradition moves will shape future investigations and compliance expectations.
Why does this matter?
High‑profile exit scams like FINTOCH hurt investor confidence and can cause short‑term sell‑offs in risky tokens, especially in DeFi and newly launched projects. They also push regulators and exchanges to tighten KYC/AML and vetting standards, raising compliance costs and leading to more delistings or frozen liquidity for suspicious tokens. Over time this should weed out bad actors and improve on‑chain transparency, but it may also slow innovation and reduce liquidity for emerging projects as the market matures.