International Crypto Scam Kingpin Chen Zhi Arrested in Cambodia, Extradited to China
en01.web.id – Cambodia.
International fugitive Chen Zhi, alleged mastermind of a massive cross-border cryptocurrency fraud network, was successfully arrested by Cambodian authorities and extradited to China on Wednesday, January 7, 2026. The arrest marks the culmination of months-long international investigations involving multiple law-enforcement agencies aimed at dismantling one of the world’s largest digital financial crime syndicates.
Chen Zhi, a 38-year-old Chinese businessman, is widely known as the founder and chairman of Prince Holding Group, a conglomerate with operations in property development, banking, and financial services across Southeast Asia. Behind this corporate image, however, global investigators accuse Chen of orchestrating a transnational criminal organization engaged in online fraud, money laundering, and large-scale cryptocurrency scams that have victimized individuals across numerous countries.
Chen’s arrest was carried out by Cambodian authorities following a formal request from the Chinese government after extensive multinational investigations. Two other Chinese nationals were arrested alongside Chen and transferred to Beijing for further legal proceedings. Cambodian authorities had previously revoked Chen’s Cambodian citizenship in December 2025, paving the way for his lawful extradition.
Investigators revealed that Chen’s organization operated sophisticated “pig-butchering” scams, a scheme in which victims are psychologically manipulated through fake online relationships and persuaded to invest in fraudulent cryptocurrency platforms. Once victims deposit substantial sums, the platforms abruptly disappear and the funds are diverted into accounts controlled by the criminal network.
Law-enforcement agencies in the United States and Europe reported that the stolen funds were laundered through shell companies, online casinos, real-estate ventures, and illegal cryptocurrency exchanges. U.S. authorities alone previously seized more than 127,000 Bitcoins linked to the operation, one of the largest cryptocurrency asset seizures in history.
Beyond financial crimes, Chen and his associates are also accused of human trafficking and forced labor. Victims from multiple countries were allegedly lured with promises of lucrative employment, only to be confined in heavily guarded scam compounds and forced to conduct fraud operations under threats and coercion.
As a consequence of the investigation, Cambodian financial regulators ordered the liquidation of Prince Bank Plc, a bank founded by Chen, after evidence suggested it had been used as a channel for laundering illicit proceeds and financing criminal activities. Chinese authorities confirmed that further investigations are underway to dismantle the remaining elements of the network and pursue other suspects still at large.
The Chen Zhi case underscores the growing global threat posed by transnational cybercrime and large-scale cryptocurrency fraud, while highlighting the critical role of international cooperation in combating modern financial преступления. Chinese authorities have confirmed that Chen will face prosecution under Chinese law as the worldwide investigation into his criminal empire continues.