Suspects involved in the BHE Exchange cryptocurrency scam, which is linked to a 900 million RMB fraud scheme, have been arrested in Thailand and will be extradited to China.

PANews reported on February 24th that, according to Singapore's Wan Shi Tong, the cryptocurrency exchange BHE Exchange is suspected of committing fraud by issuing the token "DDO," promising an annualized return of 6% and a 20-fold increase in value over ten years. The platform subsequently shut down, and funds could not be withdrawn, resulting in a total loss of approximately US$128 million (about 900 million RMB) for about 20,000 investors. Chinese police subsequently issued an arrest warrant for the main suspect, "Xiao Duan (Duan Zong)." An investigation by the Thai Immigration Bureau indicates that Duan fled China in 2024 and had been hiding in various parts of Thailand for a long time. He was recently arrested at a luxury residence in Bang Phurik Township, Samut Prakan Province. His residency permit has been revoked, and he will be deported back to China for further investigation and trial.