In a press briefing held by the Philippine Nationwide Police (PNP) on the killing of metal business magnate Anson Que on Might 5, 2025, authorities revealed that they found that unlicensed e-wallets linked to 2 on line casino junket operators had been used to switch and convert the ransom cash to cryptocurrency.
With the cash circulation, in addition they traced that some parts of the ransom cash went by completely different digital asset service suppliers (VASPs), which led to 2 domestically licensed crypto exchanges being subpoenaed.
Crypto Trade’s Off-Ramp: The Involvement of VASPs
In the course of the press briefing, PNP spokesperson Brigadier Basic Jean Fajardo presented the cash circulation of the ransom cash in Que’s case
She then defined that ransom cash was funneled by unregistered VASPs linked to on line casino junket operators 9 Dynasty and White Horse. These operators used unlicensed e-wallets that had been neither registered with the Bangko Sentral ng Pilipinas (BSP) nor reported to the Anti-Cash Laundering Council (AMLC).
Authorities then acknowledged that because of the advanced nature of cryptocurrency transactions, they’re experiencing issue in tracing the circulation of funds.
“Hindi po ito iyong dati natin na kidnapping case kung saan ‘snatch and seize’ ang ginagawa—hinaharang ang sasakyan at sapilitang ina-abduct ang biktima at magde-demand ng ransom, (tapos) ide-deliver sa kanila nang palit-ulo at ire-release ang mga biktima. This time round po, ito pong kaso po na ito ay naging napakahirap imbestigahan on the half ng SITGdahil ito po ay dumaan sa cash path.”
Brig. Gen. Jean Fajardo, Spokesperson, Philippine Nationwide Police
[Translation: “This is not like our previous kidnapping cases that employ a snatch-and-grab scheme—where vehicles are blocked, victims are forcibly abducted, and ransom is demanded; then the victims are released after ransom is paid. This time, this particular case has become very difficult to investigate for the SITG because it involved following a money trail.”]
A day after Que’s physique was discovered useless, a Particular Investigation Process Group (SITG) was fashioned by the PNP with the goal of fast-tracking the investigation. It’s led by PNP Chief of Directorial Workers Lieutenant Basic Edgardo Okubo.
As well as, investigators discovered that the money was first deposited with the junket operators, then transformed into cryptocurrency by way of unregulated wallets, moved by a number of digital platforms, and finally parked on the blockchain.
“Kapag pinasok sa junket, kapag pinasok sa e-wallet, to cryptocurrency, doon po nawawala iyong pera… As soon as na napasok sa digital (house), doon po nagkakaroon tayo ng problema as a result of no one is aware of who owns that e-wallet, it’s solely numbers.”
Main Basic Rommel Marbil, Chief, Philippine Nationwide Police
[Translation: “When the money goes through a junket, then into an e-wallet, and swapped into cryptocurrency—that’s where the money disappears… Once it enters the virtual space, that’s where we run into problems because nobody knows who owns that e-wallet; it’s just numbers.”]
In response to Atty. Emmett Manantan, the director of the AMLC, investigators tracked a number of actions throughout e-wallets because the ransom cash was transformed into cryptocurrency.
He clarified that the diagram proven throughout the briefing mirrored solely a fraction of the wallets concerned, noting that many extra had been used.
Whereas the transactions stay traceable, Manantan emphasised that fast transfers between wallets make the method tough to observe.
“Meron po kasing exchanges na hindi registered dito sa Pilipinas. Meron po silang (PNP-ACG) na-indentify na two exchanges na registered dito which might permit us to see the KYC ng mga account holders. Pero yung ginamit po nila na exchanges na unregistered sa Pilipinas, that’s the problem po.”
Atty. Emmett Manantan, Director, Anti-Cash Laundering Council
[Translation: “There are exchanges that are not registered here in the Philippines. The PNP-ACG has identified two exchanges that are registered locally, which would allow us to access the KYC information of account holders. But the exchanges they used were unregistered in the Philippines—that’s the challenge.”]
In response to PNP Anti-Cybercrime Group (ACG) Director Brig. Gen. Bernard Yang, parts of the funds had been later traced to overseas exchanges. And with the assistance of a global digital asset service supplier, authorities had been in a position to observe the circulation and freeze round $79,800 in $USDT, or about ₱4.5 million.
Manantan additionally clarified that different funds aren’t but withdrawn and are nonetheless on the blockchain.
In the meantime, in regards to the two domestically registered VASP, the authorities confirmed that these have cooperated, whereas unregistered platforms offered no such transparency.
“Domestically, sa digital property service supplier, meron tayong dalawang firm na napadalhan, hindi na po namin ime-mention ang pangalan, pero nakapag-provide na rin sila ng particulars for the KYC or ‘know your buyer’ info. Naibigay na rin sa amin… At doon sa labas ng bansa ay nakapagpadala na rin tayo ng isang preservation order, at yung isa ay nakapag-reply na sa atin.”
Brig. Gen. Bernard Yang, Director, PNP Anti-Cybercrime Group
[Translation: “Locally, among the virtual asset service providers, there are two companies we were able to send requests to. We won’t mention their names, but they have already provided details for the KYC or ‘know your customer’ information. They’ve already given that to us… And for those outside the country, we’ve also sent out a preservation order, and one of them has already responded.”]
The Subsequent Steps: What Will PNP, AMLC Do?
The PNP and AMLC are calling for the closure of unlawful junket digital asset service suppliers, revocation of on line casino agreements the place relevant, and an growth of entities labeled as “lined individuals” below the Anti-Cash Laundering Act.
“We will even be contemplating and dealing for the freezing of property and confiscation, kasama na rin po dito yung mga pondong konektado sa kidnap-for-ransom at cash laundering kabilang na rin ang digital or digital property or generally often called cryptocurrency.”
Brig. Gen. Jean Fajardo, Spokesperson, Philippine Nationwide Police
[Translation: “We will also be considering and working toward the freezing and confiscation of assets, including funds connected to kidnap-for-ransom and money laundering—this also covers digital or virtual assets, commonly known as cryptocurrency.”]
Authorities additionally search stricter onboarding, improved know-your-customer (KYC) procedures, and stronger interagency coordination with the BSP, Philippine Amusement and Gaming Company, and overseas regulators.
Background on the Anson Que Case
Chinese language Filipino businessman Anson Que, also referred to as Anson Tan, and his driver Armanie Pabillo had been kidnapped and later discovered useless April 9, 2025, in Rodriguez, Rizal. A ₱200 million ransom was reportedly paid in batches.
The PNP named 5 suspects, together with alleged masterminds David Tan Liao, who’s already in custody. and Wenli Gong, or alias Kelly Tan Lim, who remains to be at giant. Three different accomplices had been recognized, particularly Ricardo Austria, Reymart Catequista, and Jonin Lin.
Kelly allegedly lured Que to a home in Bulacan, the place he and his driver had been held captive, and likewise orchestrated the switch of the ransom cash. She had prior expenses for a 2022 kidnapping case however was launched on bail in 2024.
Initially, Que’s son Alvin was implicated based mostly on Liao’s unsubstantiated claims. Nevertheless, the PNP has since moved to clear Alvin, citing lack of proof, and is submitting a movement to take away him from the checklist of respondents.
On April 19, 2025, PNP confirmed that it had sought the assistance of the AMLC and different authorities companies to hint the cash path of the ₱200 million price of cryptocurrencies that had been a part of the ransom fee.
A ₱10 million bounty is now supplied for info resulting in Kelly’s arrest, and authorities are additionally probing on line casino and junket operators’ potential accountability within the ransom laundering.
This text is revealed on BitPinas: PNP Subpoenas Local VASPs, ₱4.5M in Crypto Frozen by Foreign Exchange in Anson Que Case
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