Dawn raid by Bangkok Police 191 captures Chinese crypto scammer Liang Ai-Bing in his luxury hideout after defrauding more than 100 victims of $14 million, ending his two year-long evasion and triggering a strict crackdown on foreign fugitives in Thailand.
A dawn raid ended Chinese fraudster Liang Ai-Bing’s freedom in Bangkok’s Wang Thonglang district on Wednesday. Armed Police 191 officers, acting on Chinese intelligence, stormed his luxury hideout and seized the cryptocurrency scammer who had lived in comfort for two and a half years. Chinese authorities shut down his fake platform in May 2023 after it swindled more than 100 victims out of $14 million. Liang was one of four masterminds, serving as a lead creator and coder. Thai police say this arrest signals a sweeping crackdown on foreign criminals hiding in Thailand with stolen wealth, swindled from innocent victims.
Police 191 stormed the three-story Bangkok hideout of Chinese scammer Liang Ai-Bing on Wednesday morning, arresting him and seizing critical evidence. (Source: Khaosod)
Thai authorities have arrested a Chinese fugitive accused of running a massive cryptocurrency scam that cheated almost 100 victims in China. The losses exceeded 100 million yuan, or about $14 million.
The suspect, Liang Ai-Bing, was captured in Bangkok on Wednesday, October 29, 2025. He had been hiding in Thailand for over two years. He was found inside a luxury three-story home office in an upscale estate in Wang Thonglang district. The property carried a monthly rent of ฿150,000, roughly $4,645. He lived alone and avoided outside contact, according to investigators.
Moreover, his arrest followed a coordinated intelligence operation between Thai Police 191 and Chinese authorities. Police said they acted only after confirming Liang’s identity and location.
Coordinated dawn raid exposes fugitive living in luxury compound and shocks wealthy Bangkok residents
They obtained a Criminal Court search warrant before moving in. Officers surrounded the estate at dawn and entered with a tactical team. Neighbours saw unmarked vehicles and armed officers along the usually quiet street. Some residents said they were shocked to learn a high-profile fugitive lived nearby. The estate is known for security gates, private guards, and high-income residents.
Inside the house, police found Liang at a workstation filled with electronic devices. He offered no resistance and surrendered immediately, officers said. Importantly, they also discovered an unlicensed Beretta pistol and 20 rounds of ammunition.
The weapon sat near his desk in a locked drawer. Officers seized laptops, mobile phones, external drives, and documents. These items are now undergoing forensic examination. Authorities believe they contain data connected to investor funds and communication with accomplices.
According to Chinese investigators, Liang was a key figure in a fraudulent digital currency investment platform named FINTOCH. The platform operated from December 2022 to May 2023. It promised high returns through blockchain technology and claimed to use sophisticated trading tools.
Fraudulent site promised digital riches but instead stole deposits and erased investor funds overnight
However, investigators allege that the platform never invested funds. Instead, it siphoned investor deposits and vanished without warning. Victims saw fake profit dashboards and received scripted support messages. Then, the application shut down and withdrawals froze. Many victims lost life savings.
Furthermore, Chinese authorities say Liang did not work alone. He allegedly collaborated with four accomplices: Ai Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun. Each played a specific role, according to official statements. Liang and Tang oversaw the creation and operation of the platform.
Ai and Wu handled advertising, influencer outreach, and public relations. Zuo managed marketing campaigns, referral programs, and investor targeting. They promoted the scheme aggressively across mobile apps and social media. Glossy banners, videos, and false testimonials boosted trust and lured victims.
When Chinese authorities began investigating, all suspects except Zuo fled the country. Zuo was later arrested in China and released on bail pending trial. Liang, meanwhile, disappeared and surfaced in Thailand months later. He entered without proper documentation, police said. Therefore, he now faces immigration charges in addition to firearm offences.
Thai authorities expand global fraud crackdown as luxury hideouts and rented estates draw scrutiny
Thai officials emphasised that this arrest forms part of a broader crackdown. In recent years, transnational cyber fraud groups have used Thailand as a hiding base. They often rent luxury homes, run operations quietly, and use digital networks to evade police.
As a result, Thai authorities have increased cooperation with international partners, especially China. Police 191 units now track foreign suspects more aggressively. They monitor rental properties, conduct visa checks, and analyse suspicious financial flows. The goal is to prevent Thailand from becoming a hub for global fraud rings.
Additionally, officers stressed that cryptocurrency scams remain a rising threat. Many victims fall for schemes promising fast profit and secure blockchain technology. Fraud groups use slick visuals, technical jargon, and confident marketing language.
They often hire local promoters to add credibility. At the same time, they disguise call centres and tech rooms as business offices or private homes. After that, they also rotate locations and switch devices to avoid detection.
Cross-border cooperation and digital tracking expose suspect’s movements and forged travel documents
In this case, Liang attempted to keep a low profile. Nonetheless, investigators noticed unusual financial behaviour and rental patterns. The high-priced property and lack of visible business activity drew scrutiny.
Moreover, cooperation with Chinese police allowed faster verification of Liang’s identity. His passport records and travel history also raised red flags. Eventually, authorities tracked his phone usage and online activity. That evidence supported the search warrant request.
Thailand’s police chief praised the operation. He said the arrest demonstrated the country’s commitment to fighting transnational crime. He also warned criminals that Thailand will not serve as a sanctuary. Police reaffirmed that fugitives who use Thailand as a base will face arrest and extradition. Officials also urged landlords to verify foreign tenant documents more carefully.
For now, Liang remains in Thai custody. Prosecutors are preparing firearm and immigration cases. Additionally, extradition procedures have begun. China is expected to request an immediate transfer to face fraud charges. Significantly, extradition can sometimes take months, but authorities said paperwork is already underway. Meanwhile, officers will analyse seized devices to trace stolen funds. They hope to recover assets and uncover other network members.
Victims unlikely to fully recover funds as crypto fraud evolves and global police pursue stolen assets
Victims in China may not get full restitution. Cryptocurrency crimes often involve rapid fund movement and laundering across borders. Still, Chinese authorities remain committed to pursuing assets. They already froze accounts linked to Zuo and seized promotional servers. More arrests may follow as investigators map the FINTOCH network.
Financial experts say the case highlights the need for caution in digital investing. They encourage investors to verify licensing, research company backgrounds, and avoid guaranteed-profit claims. Government agencies also warn against transferring funds to unfamiliar platforms. Education campaigns now target young professionals and retirees, who are common fraud targets.
Nevertheless, scams continue evolving. In the meantime, fraud groups exploit new platforms, emerging technologies, and regulatory gaps.
International cooperation and rising political pressure signal tougher crackdown on crypto scam networks
Therefore, police cooperation across borders remains crucial. Technology units now track blockchain movements and use data analysis to detect suspicious transactions. International task forces share intelligence and monitor crypto fraud networks.
PM Anutin asks the Chinese to produce intelligence on the scammer gangs threatening the country
Deputy Minister of Finance Woraphak bows out after only 33 days amid furore over scammer centre claims
Certainly, the Bangkok arrest sends another strong message. It shows cybercrime fugitives cannot hide behind luxury walls or digital screens. It also highlights the human impact of fraud. Behind every victim number stands a family that trusted false promises. Behind every stolen yuan lies hardship, anxiety, and lost futures.
As this case moves forward, courts in Thailand and China will determine Liang’s fate. For now, he sits in a secure detention facility in Bangkok. He remains under guard in addition to facing questioning from multiple agencies. Evidence gathers. Legal documents move. And investors watch, hoping justice will follow the rogue’s capture.
Join the Thai News forum, follow Thai Examiner on Facebook here
Receive all our stories as they come out on Telegram here
Follow Thai Examiner here
Further reading:
Prime Minister Anutin Charnvirakul’s government faces new claims of alleged Cambodian scam links
Cambodian scam centre mess in Thailand threatens to topple interim government following minister’s resignation
Deputy Minister of Finance Woraphak bows out after only 33 days amid furore over scammer centre claims
PM asks top minister for explanation as ex official claims Hun Sen started war to protect his scam centre industry
High powered, secretive meeting chaired by PM agrees robust action against Cambodian networks
Thailand and Cambodia face danger from ‘Dragon Head’ the Chinese mafia leader behind the scams
Cambodia lashes out at Anutin’s call to South Korean President Lee Jae-myung as internal interference
Cyber police and Money Laundering agency seek UK and US co-operation targeting Cambodian networks
United States, South Korea and United Kingdom act against Cambodian scam industry with Thai tie-ins
Ben Smith affair & allegations of links to Cambodian scam centres continues to rage in parliament
Police deny knowledge of scammer links with money whizz Ben Smith. People’s Party MP insists its certainly true
Defiant Rangsiman Rome warns he’s not just fighting a defamation case but for the future of Thailand
Ben Smith money fixer to the elite in Thailand lines up ฿100M defamation case against Rangsiman Rome
