Founder of the defunct AEX exchange released on bail in Thailand

An account that claims to be one of the victims of “Huang Tianwei’s escape” shared an update about Huang Tianwei, the founder of the defunct AEX crypto exchange (formerly known as Bitera).

The post claims that the controversial exchange founder has been granted bail and released to his family. Tianwei had been in custody after he was arrested at Don Mueang International Airport in Thailand in connection with a fraud case involving 200 million Thai Baht (approximately $5.7 million).

6月12日，AEX安银交易所创始人黄天威在泰国廊曼国际机场被抓。

泰国移民局在廊曼国际机场逮捕一名护照名为HUANG TIANWEI的39岁中国男子。

其因涉嫌重大其诈骗案件，之前被清莱地方法院发出逮捕令。

案件起源于2025年4月23日，两名中国籍受害人与黄某在泰国清莱府湄赛区会面，洽谈加密货币投资合作。… pic.twitter.com/zFZ2qB140t

— 超哥BTC (@chaoge_btc) June 12, 2025

Huang Tianwei is out on bail

According to the post that went out on July 3, Huang Tianwei, the founder of AEX (formerly Bit Era), was released on bail to his family in Thailand.

AEX, which has been operational since 2013, offered services to long-term cryptocurrency users, which allowed it to accumulate significant user funds.

Unfortunately, Tianwei reportedly refused to let users of the exchange withdraw their funds after the exchange’s collapse.

So far, only three people have reportedly been able to recover the funds they had deposited in his exchange. However, even those recoveries were only possible because the creditors went to extreme lengths to force Tianwei’s hands.

For example, the post claims that Rong Hua raised 30,000 (currency unspecified) from a victim group and used Huang’s family genealogy to locate and disturb his ancestral grave in Lianjiang. That purported act of vandalism helped the group recover about 80% of their funds in the process, with the remaining 20% scheduled to be paid over two years under a confidentiality agreement.

Another notable case saw victims resort to kidnapping Huang Tianwei and driving him onto a highway, before recovering the funds deposited in the exchange.

Reportedly, another major AEX investor, Wu Jun, also successfully recovered their funds.

To date, it appears Tianwei has done everything to frustrate customers’ recovery efforts. Only those who have directly confronted and pressured Tianwei have been able to get their funds back.

Huang Tianwei’s arrest drew comparisons to FTX’s SBF

Huang Tianwei was arrested at Don Mueang International Airport in Thailand on June 12. The 39-year-old Chinese national was arrested by the Thai Immigration Police.

Prior to Tianwei’s arrest, the Chiang Rai District Court had issued an arrest warrant for his suspected involvement in a serious fraud case.

AEX is China’s FTX
Huangtianwei was arrested in Thailand for fraud. He could have used the 44 million investment to restart the exchange, but chose to commit fraud again pic.twitter.com/eZTVNMkYgZ

— Z宝宝 (@Z74144199) June 13, 2025

The case involved two Chinese victims who met with Huang in Mae Sai District, Chiang Rai Province, Thailand to discuss cryptocurrency investment cooperation. After the meeting, the victims transferred cryptocurrencies worth approximately 200 million baht (approximately $6 million) into a digital currency wallet controlled by Huang via two transactions.

Unfortunately, the other party did not honor the agreement and severed contact. When the two victims found out they had been cheated, they immediately had a lawyer report the case to the Mae Sai District Police Station in Chiang Rai Province on April 30, accusing Huang of suspected fraud.

After receiving the report, the Immigration Bureau successfully nabbed Huang, who was getting ready to flee the country, at 6 a.m. on June 12 at the international departure hall of Bangkok’s Don Mueang Airport.