According to the official account of Red Star News, Guo Congyuan, the high-profile Filipino Chinese "steel king" and the founding president of the Philippine Chinese Chamber of Commerce, was arrested in a luxury resort on Boracay Island in the Philippines. After confirmation, the two arrested suspects are Gong Wenli (alias "Kelly") and Wu Jiaping (alias "Wu Jiabing"). Among them, Gong Wenli was identified as one of the masterminds of this kidnapping case, mainly responsible for luring the victim to the place where he was kidnapped, managing a digital wallet storing a ransom of 200 million pesos, and money laundering operations. There is still one main suspect, Jonin Lin, on the run.
Currently, only a portion of the ransom is stored in the tracked cryptocurrency wallets; Approximately $1.36 million in ransom has been withdrawn through an account in Cambodia, which has been flagged by US authorities as suspected of money laundering.
