Thai authorities have arrested Chinese national Liang Ai-Bing in Bangkok for his alleged involvement in the FINTOCH crypto Ponzi scheme, which defrauded investors of $14 million. During a raid on his residence, police discovered illegal firearms and are coordinating with Chinese officials for extradition. FINTOCH falsely promised daily returns of 1% and claimed ties to Morgan Stanley, with actors posing as executives. The scheme collapsed in May 2023. Blockchain analyst ZachXBT identified the transfer of 31.6 million USDT, marking it as one of the largest DeFi scams of 2023.