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Cambodia Deports Crypto Tycoon Behind $15B Bitcoin Scam to China

Cambodia Deports Crypto Tycoon Behind $15B Bitcoin Scam to China

Author:

Global Cryptocurrency

Published:

2026-01-08 07:58:02

14

3

BTCCSquare news:

Chen Zhi, founder of Cambodia's Prince Group, was arrested on January 6 following a joint Sino-Cambodian investigation. The 37-year-old tycoon stands accused of operating forced-labor compounds that ran 'pig-butchering' crypto scams—a scheme so extensive it triggered the U.S. Department of Justice's largest-ever forfeiture action last October targeting $15 billion in bitcoin.

Two associates—Xu Ji Liang and Shao Ji Hui—were also deported. Cambodia revoked Chen's citizenship in December 2025 and froze operations at his Prince Bank subsidiary. The case highlights growing international coordination against crypto-enabled financial crimes, particularly those exploiting Southeast Asia's special economic zones.

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