Apprehension of Huang Tianwei
On June 12, reports confirmed the apprehension of 39-year-old Huang Tianwei, a Chinese national, by Thailand’s Immigration Bureau at Don Mueang International Airport. Huang, known as the founder of the now-defunct cryptocurrency platform AEX (Anyin Exchange), is embroiled in allegations of orchestrating a fraudulent scheme involving approximately 200 million Thai baht (nearly 5 million USD).
Career Overview and AEX Collapse
Huang Tianwei has had a storied career within the cryptocurrency sector, launching one of China’s pioneering Bitcoin trading platforms, BitTimes Exchange, back in 2013. During a time when the digital currency market was burgeoning, BitTimes amassed a significant following due to its low transaction fees and adaptable trading options. As the market evolved, Huang transformed BitTimes into AEX in 2018, aiming to reach a global audience with high-yield financial products. At its zenith, AEX was said to handle billions in assets and operated a range of leveraged transactions that lured many retail investors.
However, rumors of internal trouble began circulating in 2021, as AEX started experiencing liquidity challenges. By mid-2022, the platform was unable to honor withdrawal requests, claiming obstacles that led to its operational halt. The disintegration of services prompted users to uncover alarming truths; many of AEX’s advertised high-yield products turned out to be Ponzi-like schemes depending on fresh capital to payout existing investors. Consequently, the fallout left around 22,000 investors with losses exceeding 20 million USD. This period of chaos saw Huang vanish from public view, even after being briefly detained by local authorities in Guangxi. Shortly after his release, Huang is believed to have relocated to Thailand to evade the repercussions of the AEX collapse.
New Developments and Arrest
The situation took a new turn when, in April 2025, two Chinese individuals were led by Huang into a dubious investment proposal, allegedly promising high returns on Bitcoin. Instead, they found their investments wiped out, leading to a complaint being filed that drew the attention of the Chiang Rai District Court and resulted in an arrest warrant aimed at Huang. His eventual capture came during a routine passport check at the airport, where police recognized his information from the issued warrant.
Currently, Huang is under the jurisdiction of local law enforcement, facing significant allegations of fraud. As these developments unfold, a group of eight investors who were affected by the AEX demise gathered outside the Chiang Rai County Police Station, seeking justice. However, local authorities clarified that Huang’s previous dealings with AEX were not linked to the current fraud case at hand, disrupting any immediate hopes for dialogue.
Potential Extradition and Implications
Meanwhile, experts like Archer Wolfe, from the cryptocurrency consultancy MohrWolfe, suggest that Huang may be extradited to China, potentially experiencing the seizure of his assets in the process. Throughout his career, Huang has held notable positions at companies like Tencent and has involved himself with various investments, showcasing a substantial yet controversial presence in the financial arena. Following the downfall of AEX, countless victims have rallied online, protesting for accountability, yet with limited success thus far. The broader implications of Huang’s activities continue to unravel, raising questions within the cryptocurrency community.
