Cross-Border Manhunt in the USD 128 Million BHE Platform Fraud Case; Principal Suspect “Boss Duan” Arrested in Thailand

On February 19, 2026, under the overall leadership and coordination of the Phillips Nizer LLP Cross-Border Fugitive Recovery Team, officers of the Thai Immigration Bureau successfully arrested Chinese national Duan (known as “Boss Duan”), an alleged cryptocurrency fraud mastermind who had fled overseas. He was apprehended at a luxury residence in Bang Phli District, Samut Prakan Province, Thailand.

Duan is accused of operating the fraudulent digital asset trading platform BHE Exchange, allegedly deceiving approximately 20,000 investors worldwide through the issuance of worthless tokens and promises of extraordinary investment returns. The total amount involved is estimated at USD 128 million (approximately THB 4 billion).

After being retained by the first group of victims in 2024, Phillips Nizer LLP initiated a multi-jurisdictional legal strategy. The firm conducted extensive tracing of domestic and international fund flows connected to the scheme and developed a comprehensive asset map. It also submitted legally certified evidence materials to China’s Ministry of Public Security, contributing to the issuance of a Red Notice request against Duan. Simultaneously, legal proceedings were initiated in the United States, Thailand, and Cambodia. Through an intelligence-sharing mechanism established with the Thai Immigration Bureau, the firm provided critical information regarding Duan’s whereabouts, ultimately assisting authorities in locating and arresting him.

Duan’s Thai visa has reportedly been revoked, and he is currently awaiting deportation to China for prosecution.

Phillips Nizer LLP issues a warning to fraudsters worldwide: the firm not only assists victims in recovering losses, but also possesses the capability to lead and coordinate international enforcement efforts aimed at locating, apprehending, and bringing offenders to justice. Victims may contact the firm through its official channels. The sword of justice has been unsheathed.