BHE Exchange 900 million RMB fraud case suspect arrested in Thailand after 2 years on the run

According to reports from the WeChat public account "Singapore All-in-One," a Chinese suspect involved in fraud through a cryptocurrency platform was recently arrested in Nakhon Pathom, Thailand. The suspect, nicknamed "Duan Zong," is related to the BHE Exchange cryptocurrency fraud case.

BHE Exchange had issued a token called DDO, promising investors an annual return of 6% and a 20-fold increase within ten years, attracting around 20,000 investors. The platform suddenly shut down, and investors were unable to withdraw their funds, resulting in a loss of approximately $128 million (about 900 million RMB). The suspect fled China in 2024 and settled in Thailand, frequently changing residences to evade capture. Currently, the Thai authorities have revoked his residence permit and will deport him back to China for further investigation and prosecution.