Billionaire Chen Zhi Extradited to China Over Alleged Multi-Billion Cryptocurrency Scam
Cambodia has extradited billionaire businessman Chen Zhi to China after he was accused of masterminding a vast cryptocurrency scam. This scheme entangled trafficked workers, who were allegedly forced to operate fraudulent online setups that deceived victims across the globe.
Chen Zhi was one of three Chinese nationals arrested on January 6, following a joint investigation into transnational crime that spanned several months. The 37-year-old businessman, who was born in southeast China, faces serious charges including internet fraud that allegedly led to the theft of billions in cryptocurrency.
The US government had previously indicted Chen in October 2025, claiming his operations had resulted in a significant seizure of bitcoin—estimated around $14 billion—linked to his schemes. Furthermore, his business conglomerate, the Prince Group, has faced sanctions from both the US and the UK.
According to US prosecutors, this case marks one of the largest financial takedowns in history, highlighting the extensive scale of Chen’s operations. Despite previous denials of involvement in scams, Prince Group has been scrutinized by authorities in multiple countries.
Since his indictment, the exact whereabouts of Chen Zhi were unclear until Cambodian authorities confirmed his arrest, although they did not provide details on his detainment location. Following the extradition, it was noted that his Cambodian citizenship had been revoked.
Authorities estimate that hundreds of thousands of individuals have been trafficked to Southeast Asia, often leading to exploitative situations where they are forced to conduct online scams under duress.
Chinese officials have also been looking into the Prince Group as part of broader investigations into transnational online criminal activities linked to the organization. As the situation develops, many are watching to see how this case unfolds and its repercussions on international fraud and human trafficking.
