Fintoch Ponzi / exit scam
Fintoch ('Morgan DF Fintoch') operated on BNB Chain, claimed Morgan Stanley affiliation, and advertised 1% daily returns. ZachXBT reported the team withdrew about $31.6M in USDT in May 2023; a related arrest later occurred in Bangkok.
Also known as: Fintoch, Morgan DF Fintoch, Bobby Lambert
Summary
Fintoch, also branded "Morgan DF Fintoch", operated from approximately December 2022 to May 2023 on BNB Chain and presented itself as a DeFi investment platform. It claimed affiliation with Morgan Stanley and advertised returns of 1% per day. [2][3] In May 2023, ZachXBT reported that the team withdrew about $31.6 million in USDT and bridged it to multiple addresses on the Tron and Ethereum networks as users reported being unable to withdraw. [1][2]
Reported misrepresentations
Reporting indicates the claimed Morgan Stanley affiliation was false and that the platform's stated CEO was portrayed by a paid actor. [3] Singapore's Monetary Authority and Morgan Stanley published warnings about the platform before its collapse. [3]
Outcome
Thai authorities later arrested a Chinese national in Bangkok in connection with the scheme, according to reporting. [2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (3)
- ZachXBT investigation thread — ZachXBT (X)
- Bangkok Arrest Exposes $31 Million Crypto Ponzi Scheme — BeInCrypto
- Explained: The Fintoch Rug Pull (May 2023) — Halborn
See also
- Profit ConnectProjectsA Las Vegas company that the SEC said was a $12M+ Ponzi scheme: it told 277+ investors their money would be invested in securities and crypto via an 'artificial intelligence supercomputer' guaranteeing 20–30% annual returns. The SEC halted it in 2021; over 90% of funds came from investors.
- CoinseedProjectsA mobile crypto-investing app that the SEC and New York AG said was fraudulent: it sold unregistered 'CSD' tokens, misrepresented its management, charged hidden fees, and traded in customers' accounts without permission. A NY court shut it down in 2021 with a $3M judgment against CEO Delgerdalai Davaasambuu.
- ShopinProjects
This page was last updated on Jun 8, 2026. View revision history.