Preheat the oven to 425°F (220°C) and line a baking sheet with aluminum foil for easy cleanup.
In a large bowl, combine the chicken wings with garlic powder, ginger powder, salt, and pepper. Drizzle with vegetable oil and toss to coat the wings evenly.
Spread the wings in a single layer on the prepared baking sheet. Bake for 35-40 minutes, flipping halfway through, until they are crispy and golden.
While the wings are baking, in a mixing bowl, combine the peanut butter, soy sauce, honey, rice vinegar, Sriracha, lime juice, sesame oil, and whisk until smooth. Add water gradually to achieve your desired sauce consistency.
Once the wings are done baking, transfer them into a large mixing bowl, pour the spicy Thai peanut sauce over them, and toss to ensure every wing is well coated.
For extra flavor, return the coated wings to the oven for an additional 5-10 minutes to set the sauce.
Transfer the wings to a serving platter, garnish with chopped cilantro and crushed peanuts for a crunchy finish.
Notes
Adjust the Sriracha sauce for desired spice level.