Huang Tianwei, arrested in June for fraud, has been released on bail to his family in Thailand. The fraud involved approximately 200 million Thai Baht (about 6 million USD). Only those who confronted him managed to recover some funds from his collapsed exchange.
Tianwei’s case draws parallels to the FTX scandal involving Sam Bankman-Fried, highlighting patterns in fraudulent activities within the crypto market. While some victims have recovered their funds, many remain frustrated as recovery efforts faced numerous obstacles.
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