[Chinese National Suspected in 500 Million Yuan Money Laundering Case Arrested in Thailand, Previously Provided Cryptocurrency Exchange Services for the Gang] Reported by Jinse Finance, on October 18, according to crypto.news, Thai immigration police arrested a 37-year-old Chinese man (surname disclosed as Wu) suspected of facilitating cryptocurrency and foreign currency exchanges for a money laundering network. According to The Nation's report on October 17, investigators apprehended him the previous day in a luxury residential area in Saphan Sung District, Bangkok. The man was wanted by Chinese authorities for crimes related to a loan shark syndicate. Police stated that he recruited individuals to open bank accounts, collected bank cards and account information, and provided them to the money laundering gang. He also arranged visas for members of the transnational criminal network. Investigators identified that the network's transaction volume exceeded 500 million yuan, though not all of the amount was described as cryptocurrency transfers. In Thailand, police charged him under Section 81 of the 1979 Immigration Act for overstaying his visa, which had expired approximately 3 years and 8 months ago. The charges in Thailand pertain to immigration violations, while the Chinese arrest warrant targets alleged criminal activities. Authorities stated they would initiate deportation procedures and coordinate with Chinese officials for his repatriation.