Thai Police Arrest Chinese Suspect in $6.1 Million Bitcoin Fraud Case

Thai immigration police arrested a Chinese fugitive at Don Mueang Airport Thursday morning as he attempted to flee to Singapore, ending a manhunt connected to millions in stolen Bitcoin.

The man, Tianwei, was arrested at 6 a.m. local time (7 p.m. ET) on Thursday at the international departure terminal as he attempted to board Lion Air flight SL100, according to a report by local news outlet Khaosod English.

The airport intercept ended a month-long manhunt that began when two Chinese victims reported losing $6.15 million (200 million baht) in Bitcoin to the suspect after a business meeting in Mae Sai district.

Chiang Rai Provincial Court issued the arrest warrant on May 16. Intelligence reports indicated Tianwei would attempt to flee the country, prompting authorities to alert Don Mueang immigration officers.

The suspect reportedly communicated in English during his arrest. Sergeant Suwaphan Utsaha, commander of the Don Mueang Immigration checkpoint, served as an interpreter to inform him of his rights and the charges against him. 

Tianwei confirmed his identity and told officers he had never been arrested in this case before.

Thailand’s notoriously tough stance on foreign fraud suspects means Tianwei faces a grim future, according to Archer Wolfe, founder of the crypto consultancy firm MohrWolfe and a former resident of Thailand.

“It’s no surprise that Thai immigration continues cracking down on fraud amongst foreigners—they’re famous for their hardcore measures,” Wolfe told Decrypt. “However, once they’re suspicious of you, and you get caught, they will dissect your entire life, starting with your smartphone and every conversation you have in it.”

Wolfe predicted harsh consequences, saying that the suspect “is going to be extradited back to China” and “the Thai government is then going to keep that Bitcoin unless an exorbitant fee is paid and simply close the book.”

Crypto crackdown in Asia

The arrest comes amid a regional crackdown on crypto fraud that has netted hundreds of millions in seized assets across Asia.

India’s Central Bureau of Investigation arrested Delhi resident Rahul Arora on Tuesday and seized over $327,000 in crypto from a cybercrime operation targeting U.S. and Canadian victims through caller ID spoofing and social engineering.

Last month, Vietnamese authorities dismantled the Matrix Chain pyramid scheme after a 200-day investigation, arresting five suspects accused of defrauding 185,000 victims out of nearly $400 million.

In February, Thai and Chinese police teamed up to arrest two Chinese nationals and seize $2.5 million worth of Tether’s USDT stablecoin from a large-scale scam operation.

Edited by Sebastian Sinclair