PANews reported on May 21 that according to the Red Star News WeChat account, the main suspect in the kidnapping and murder of Guo Congyuan, the much-watched Filipino Chinese "Steel King" and founding president of the Philippine Chinese Chamber of Commerce, was arrested in a luxury resort in Boracay, Philippines. It has been confirmed that the two arrested suspects are Gong Wenli (alias "Kelly") and Wu Jiaping (sound, alias "Wu Jiabing"). Among them, Gong Wenli was identified as one of the masterminds of the kidnapping case, mainly responsible for luring the victim to the place where he was kidnapped, responsible for managing the digital wallet that stored the 200 million pesos ransom, and money laundering operations. There is still a main suspect, Jonin Lin, who is at large.

Only part of the ransom is stored in the cryptocurrency wallets that have been tracked; another approximately $1.36 million in ransom has been withdrawn through an account in Cambodia, which has been marked by US authorities for suspected money laundering.