Thai Police Arrest Chinese Suspect in Alleged $75M Crypto Crime Network

Thai police have arrested a 37-year-old Chinese man wanted by authorities in China over alleged links to an international criminal network that investigators say handled more than 500 million yuan ($75 million) in transactions.

Thai media reports say the suspect allegedly helped cryptocurrency and foreign-currency exchanges for criminal groups through more than 133 accounts. Investigators also accused him of helping arrange visas for members of international crime groups connected to other money-laundering investigations.

Police said the man tried to evade arrest by using forged documents to report his residence and changing vehicle registration plates. Officers eventually located him at a luxury house in Bangkok. His permission to remain in Thailand had expired more than three years earlier, according to the report.

The suspect will face legal proceedings in Thailand before authorities coordinate his return to China to face an outstanding warrant. 

The reported $75 million is the network’s alleged transaction volume. Authorities have not yet established that the entire amount involved cryptocurrency or represented criminal proceeds.