Prince Group Chairman Chen Zhi Arrested in Cambodia

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Prince Group Chairman Chen Zhi, who was identified as the ringleader of the "pig butchering" scam in Cambodia, has been arrested and extradited to China, local media reported. Chen Zhi is accused of running multiple forced labor fraud rings and stealing billions of dollars in cryptocurrency. Previously, US authorities seized 127,271 BTC (approximately $15 billion) in Bitcoin linked to Chen Zhi. The US and UK governments have designated Prince Group, of which Chen Zhi is the chairman, as a transnational criminal organization, and international organizations have pointed out that the group has been systematically operating forced labor-based cryptocurrency fraud throughout Southeast Asia.

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