Thai police detained a suspect tied to the collapse of China’s BHE Exchange and the DDO token scheme, alleged to have defrauded about 20,000 investors of roughly RMB 900 million (around $128 million). Reports say the suspect fled China in 2024 and will be deported to face further investigation in China.

Regional reporting indicates Thai authorities have detained a suspect believed to be involved in the collapse of China’s BHE Exchange and its associated DDO token scheme, an episode alleged to have defrauded roughly 20,000 investors of approximately RMB 900 million, equivalent to about 128 million U.S. dollars. According to press accounts, the individual left China in 2024 after the platform shut down and subsequently lived in Thailand while evading arrest for nearly two years. Thai officials moved to detain the suspect under immigration and criminal provisions and stated plans for deportation to Chinese authorities to face formal fraud and asset-misappropriation investigations. The case highlights the cross-border complexity of pursuing exchange operators and token promoters after platform collapses, including challenges in tracing dispersed crypto assets, coordinating extradition and evidence-sharing, and repatriating stolen funds to tens of thousands of retail investors. The incident has prompted calls for enhanced international cooperation, faster information sharing, and more robust frameworks to hold operators accountable when platforms disappear or tokens collapse with large investor losses.