If it's getting a 500 error, they're already not getting through, so you don't really need to do anything more.
Does your site use mod_security (assuming Apache)? It's the server administrator's choice what response to return: 403 or 503 or something creative. A mod_security lockout was my first thought, because Chinese referer spam just reeks of the kind of UA that a server would want to block comprehensively.
The part I don't understand is what this has to do with WMT. Where do the "links" fit in?
The URLs from that site changed the question marks in the URL to %3f and the equal sign to %3d
That's normal behavior if a query string is being included within a further query string. The ? and = (possibly also some %2D for & ) have to be converted to literal text.
if you look at the site, there is something very suspicious about it.
Hm, I see what you mean. Or, at least, I see
something hinky, though possibly not the same thing you saw.
:: detour to FF and Live Headers, which leaves me none the wiser and also makes me wonder about the Laotian connection (involving Chinanet, yawn) and what the ### is port 82 doing in there? ::
The fun part is that if you look up kb58.cn in the free lookup of your choice, #1 the thumbnail is an entirely different site, but #2 all the suggested similar sitenames involve some similarity to "google". So they can't quite make up their minds what mask they're wearing.