China · Bitcoin.com News
Thai Police Bust Chinese Boss Behind $74 million Crypto Laundering Ring
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Thai Immigration Police arrested Wu Chaoshuai, a Chinese national who had entered the country on a tourist visa back in 2019, and had taken action to evade arrest.
Key facts
- Thai Immigration Police arrested Wu Chaoshuai, a Chinese national who had entered the country on a tourist visa back in 2019, and had taken action to evade arrest
- According to the third division of the Thai Immigration police, Wu entered Thailand using a tourist visa in December 2019 and remained after its expiry, likely to avoid leaving and being detected
- The Bank of Thailand has reportedly moved to place tether (USDT) under its monitoring framework as part of a broader…
- The Thai press reported that Wu moved between various residences frequently, renting houses and luxury condos in different communities
Summary
Thai police arrested a Chinese kingpin accused of using crypto exchanges to launder over $74M. The suspect used fake IDs, altered cars, and frequent moves to evade arrest after overstaying his visa. Thailand will charge and extradite him, marking another crackdown on regional crypto-linked money laundering. Thai authorities announced the arrest of a money laundering kingpin who fled China to avoid arrest and remained in the country after his visa expired.