Key Suspect in 900 Million RMB Crypto Scam Arrested in Thailand, to be Extradited to China

BHE Exchange, a cryptocurrency trading platform, is implicated in a fraudulent scheme involving the issuance of a token named "DDO." Investors were reportedly promised an annual yield of 6% and a tenfold increase in value over a decade. The platform subsequently closed, rendering funds inaccessible, resulting in an estimated loss of $128 million (approximately 900 million RMB) for around 20,000 investors. Chinese authorities had issued a warrant for the arrest of the main suspect, identified as "Xiao Duan (General Manager Duan)."

Thai immigration authorities reported that the suspect had been hiding in various locations across Thailand since fleeing China in 2024. The individual was recently apprehended at a luxury residence in Bang Pu, Samut Prakan province. Their permit to stay in Thailand has been revoked, and they will be deported to China for further investigation and legal proceedings.

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