Suspect Linked to $15 Billion Bitcoin Fraud Arrested in Cambodia, Deported to China

TheNewsCryptoPublished on 2026-01-08Last updated on 2026-01-08

Abstract

Cambodian authorities have arrested and deported businessman Chen Zhi to China. He is accused of masterminding a massive international criminal network involving a $15 billion Bitcoin fraud, pig butchering scams, and money laundering. As the founder of the Cambodia-based Prince Group, he allegedly used its public business operations as a front for criminal activities. His network is linked to over 100 shell companies and the operation of scam centers across Southeast Asia. This follows a historic seizure by U.S. authorities of over 127,000 Bitcoin, valued at $15 billion, from his operation. China is seeking to prosecute him under its laws, which allow citizens to be charged for major crimes committed abroad. The case highlights the global scale of crypto-related crime and increased cross-border law enforcement cooperation.

The Authorities in Cambodia have arrested Chen Zhi, who was the businessman accused of running one of the largest Crypto fraud and money laundering cases ever uncovered. Authorities believe that he was the main man behind the massive criminal cases that are tied to the $15 billion Bitcoin seizure by the U.S. Prosecutors.

Inside Chen Zhi’s Business Empire and the Fraud Allegations

Chen Zhi is a 38-year-old man and the founder and chairman of Prince group which is based in Cambodia. These Prince groups operate real estate and Hospitality across many countries. U.S. and U.K. Authorities claimed that behind the Public business image of the Prince group, they used to run the Criminal operation. But from the Prince Group side, they deny all the allegations.

He was mainly accused of large-scale Crypto fraud, Pig butchering scams, Money laundering, and also operating many Scam centers in Southern Asia. Authorities said that they are mostly involved in the Pig butchering scams, in which the scammers build trust with the victim online, and the Victims are encouraged to invest in the Fake Crypto trading platforms. Once the money is deposited, the Platform disappears, and the victim loses all the invested money. According to authorities Chen’s Network used over 100 shell companies and wallets to hide and move stolen funds.

The $15B Bitcoin Seizure and Events Following Chen Zhi’s Cambodia Arrest

In October, U.S. authorities said that they seized more than 127,000 Bitcoin worth $15 billion from Chen Zhi’s Network. This is believed to be one of the largest Crypto Seizures in History. This was evidence of the global and organized fraud operations. The U.S. and U.K. later labeled the Prince group a criminal organization, and the U.S. officials have sanctioned dozens of Crypto Wallets linked to the case.

After Chen Zhi was arrested in Cambodia, the authorities revoked his Cambodian citizenship and deported him to China. The Chinese authorities have asked Cambodia to send him back to China so that they can investigate and possibly prosecute him. Under Chinese law, the citizens of China can be charged for major crimes like Fraud, money laundering, even if it’s done outside China.

Even though the formal charges haven’t been announced yet, Chinese investigators are expected to file criminal charges if enough evidence is found and seize the assets, including cryptocurrency and other property. This shows how the Crypto scams have grown into massive International Criminal networks and how the Blockchain tracking helps authorities trace stolen funds. This is the reason the governments are increasing cross-border law enforcement cooperation.

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TagsCrypto ScamsCryptocurrency

Related Questions

QWho was arrested in Cambodia and deported to China in connection with a $15 billion Bitcoin fraud?

AChen Zhi, a businessman accused of running one of the largest crypto fraud and money laundering cases.

QWhat is the name of the company founded by Chen Zhi and what industries does it operate in?

AChen Zhi founded the Prince Group, which operates in real estate and hospitality across many countries.

QWhat specific type of scam is Chen Zhi's network primarily accused of conducting?

AThey are primarily accused of 'Pig butchering' scams, where scammers build trust with victims online and encourage them to invest in fake crypto trading platforms.

QHow much Bitcoin did U.S. authorities seize from Chen Zhi's network and what was its value?

AU.S. authorities seized more than 127,000 Bitcoin, worth $15 billion, from Chen Zhi's network.

QWhy was Chen Zhi deported to China by Cambodian authorities?

ACambodian authorities revoked his citizenship and deported him to China at the request of Chinese authorities so he can be investigated and possibly prosecuted for crimes committed outside China under Chinese law.

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