A small group of foreigners in Pasay City in the Philippines have been arrested after allegedly stealing almost $100,000 (five million pesos) worth of cryptocurrency. The thieves, who were identified as Chinese nationals, were turned over to the Chinese embassy for further processing. However, the subsequent investigation revealed that they were all simply pawns for another criminal.
According to the Pasay Assistant Chief of Police for Operations, Superintendent Gene Licud, another Chinese citizen, You Jin Gai, approached the Station Investigation Division Management Branch (SIDMB) over the weekend, claiming that his cryptocurrency had been stolen. The victim was able to identify the suspects, and gave the police their names. They were identified as Lai Ze Lin, Chen Xiao Yu, Cheu Zhi Pens, Wu Zhao Hua, Zhou Jin Lian and Xu Bao Yi.
All six were rounded up on Sunday by the SIDMB. Investigators determined that they had not perpetrated any crimes, but that they were only employees of the real criminal, Chen Yi. They all subsequently turned to the police for help, claiming that Chen had “promised them an honest work here in Philippines.” Chen has not yet been located.
South Korea has been cracking down on all types of illegal activity, particularly that associated with cryptocurrencies. It busted a major ring of Chinese and South Korean nationals last month that were involved in a $33-million crypto scam. Immigration Commissioner, Jamie Morente, said at the time, “We reiterate our warning to all foreign criminals who are hiding in the country that the long arm of the law will eventually catch you and we will send you back to your homelands.”
Pasay City is taking an especially hard stance against illegal activity. The city’s police chief,