China tightens crackdown on crypto crime with first extradition from Thailand

China recently arrested Zhang, one of the main suspects in an elaborate crypto crime, from Thailand. This is the first case of extradition of a suspect from Thailand to China since the two countries signed the China-Thailand Extradition Treaty in 1999.

On the evening of August 20, Zhang was extradited to China with the support of Chinese and Thai authorities as part of the Ministry of Public Security's so-called “fox hunting operation.” As reported by the Xinhua news agency, this operation targets people involved in serious economic crimes.

Zhang is accused of extorting money through the MBI Group, which has been operating a pyramid scheme since 2012. The aim of the scheme was to persuade people to pay fees ranging from 700 to 245,000 yuan to join a platform that provided a virtual currency.

Members were promised high returns depending on how many people the member could persuade to join the program and how much capital was invested. The program reportedly included more than 10 million members and was worth more than 100 billion yuan.

Zhang has been under investigation since November 2020, assisted by the Chongqing Municipal Public Security Bureau. However, he fled the country and in March 2021, Interpol issued a Red Notice against him, which led to him being arrested by Thai police on July 21, 2022.

Following his arrest, China requested his extradition, which the Thai Court of Appeal granted on May 21, 2024. The Thai government approved the court's ruling on August 14, paving the way for Zhang's deportation to China.

Fox Hunting Operation officials have considered this a success, as has China, which has promised to protect the rights of its citizens and the law. Such a case is considered a significant success in police cooperation between China and Thailand and another outcome is defined as a positive example for future extradition cases.

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