The $14 Billion Crypto Mastermind Falls: Chen Zhi Cambodia Extradition to China
Cambodia has extradited billionaire Chen Zhi to China over a massive $14 billion crypto scam involving Prince Group. US and UK sanctions preceded the arrest of the alleged mastermind.
A $14 billion cryptocurrency empire has come crashing down. Cambodia has extradited Chen Zhi, a billionaire businessman accused of orchestrating a global scam fueled by human trafficking and forced labor.
Chen Zhi Cambodia Extradition and the $14bn Crypto Scam
According to reports from the BBC, Cambodian authorities arrested Chen Zhi and two other Chinese nationals on January 6, 2026, following a months-long joint investigation into transnational crime. The US had already charged the 37-year-old last October with running vast internet scams. FBI Director Kash Patel described the seizure of $15 billion in bitcoin as one of the largest financial fraud takedowns in history.
The Collapse of Prince Group and Forced Labor Camps
The Prince Group, once a dominant force in Cambodia's property and financial sectors, is now under intense scrutiny. The UN estimates that hundreds of thousands of people have been trafficked to Southeast Asia and forced to run online scams under threat of torture. While the group has previously denied involvement, the National Bank of Cambodia has now placed Prince Bank under liquidation. Some analysts suggest these illicit activities account for nearly 50% of the entire Cambodian economy.
This content is AI-generated based on source articles. While we strive for accuracy, errors may occur. We recommend verifying with the original source.
Related Articles
In the China Europe diplomacy offensive 2026, Beijing is bypassing Brussels to offer aircraft deals and market access to individual EU states like France and Spain, aiming to split the bloc's unity.
Canada removes the 100% tariff on Chinese EV imports, replacing it with a 6.1% rate for the first 49,000 units. PM Mark Carney announced the move in Beijing.
China's Ministry of State Security warned on Jan 14, 2026, about foreign 'anti-China' forces stealing sensitive geodata through covert mapping operations.
Mitigation hearings for Jimmy Lai's national security case concluded on Jan 13, 2026, two days earlier than expected. A final sentencing date is still pending for the Hong Kong mogul.
In the China Europe diplomacy offensive 2026, Beijing is bypassing Brussels to offer aircraft deals and market access to individual EU states like France and Spain, aiming to split the bloc's unity.
Canada removes the 100% tariff on Chinese EV imports, replacing it with a 6.1% rate for the first 49,000 units. PM Mark Carney announced the move in Beijing.
China's Ministry of State Security warned on Jan 14, 2026, about foreign 'anti-China' forces stealing sensitive geodata through covert mapping operations.
Mitigation hearings for Jimmy Lai's national security case concluded on Jan 13, 2026, two days earlier than expected. A final sentencing date is still pending for the Hong Kong mogul.