Looks like this fugitive’s plans to flee didn’t exactly go as planned. Tianwei, a Chinese national, was arrested Thursday morning at Don Mueang Airport as he tried to board a flight to Singapore. His escape attempt? Not so smooth. His arrest marks the end of a month-long chase tied to $6.15 million in stolen Bitcoin. That’s a whole lot of crypto, but it’s now in the hands of the Thai authorities.
It all went down at 6 a.m. local time (7 p.m. ET) on Thursday, when the guy tried to board Lion Air flight SL100. Local news outlet Khaosod English reported that this interception was the grand finale of a manhunt that started after two Chinese victims lost their Bitcoin during a business meeting in Mae Sai district. That’s one seriously bad meeting, considering the victims were defrauded of a whopping 200 million baht.
What’s Next for Tianwei?
Thailand’s Chiang Rai Provincial Court had issued the arrest warrant for Tianwei on May 16, and after intelligence reports indicated he was planning to leave the country, the authorities were on high alert. Don Mueang’s immigration officers were ready, and boy, did they nail it.
During his arrest, Tianwei apparently spoke English. Sergeant Suwaphan Utsaha, the commander at the immigration checkpoint, served as an interpreter to let him know his rights and the charges against him. Tianwei confirmed his identity, claiming he’d never been arrested for this particular case before. Well, buddy, you are now.
With Thailand's reputation for cracking down hard on foreign fraudsters, Tianwei might be in a bit of a pickle. According to Archer Wolfe, founder of the crypto consultancy firm MohrWolfe, the guy’s got a rough road ahead.
“Once Thailand gets suspicious of you, they’ll dig deep into your life. They’ll go through your smartphone and every message in it.”
Wolfe said, predicting Tianwei would face extradition back to China, and the Thai government would likely hold onto the Bitcoin unless an astronomical fee is paid.
This arrest comes at a time when Asia is tightening its grip on crypto fraud. India recently arrested Rahul Arora and seized over $327,000 in crypto, while Vietnam wrapped up a 200-day investigation into a pyramid scheme that defrauded 185,000 victims of nearly $400 million. Meanwhile, Thai and Chinese police teamed up earlier this year, arresting two Chinese nationals and seizing $2.5 million worth of Tether’s USDT stablecoin.
It seems like the crypto crackdown is well underway in Asia, and if you're thinking of trying to pull a fast one, you might want to think again.
Alex Shepel
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
