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.
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