BlockBeats report: On February 24, a Chinese suspect known as "Director Duan" was arrested in Samut Prakan Province, Thailand, in connection with the BHE Exchange cryptocurrency trading platform fraud case. BHE Exchange previously issued a token called DDO, promising investors an annual yield of 6% and a 20-fold increase in value within ten years, attracting approximately 20,000 investors. The platform subsequently shut down abruptly, leaving investors unable to withdraw their funds and resulting in losses of approximately $128 million (around 900 million RMB).
The suspect fled China in 2024 and settled in Thailand, frequently changing residences to evade detection. Thai authorities have since revoked his residence permit and deported him back to China for further investigation and prosecution.