According to reporters from the Guangxi International Communication Center (Cambodia) and the Cambodia–China Times, Chen Zhi, the founder and chairman of Prince Group, was detained in Cambodia and subsequently extradited to China for investigation.
The Cambodian Interior Ministry, speaking to Reuters, stated that all of yesterday’s repatriations involved three Chinese nationals, including Chen Zhi, Xu Ji Liang, and Shao Ji Hui.
The US and the UK added numerous entities linked to Prince Group and Chen Zhi to their sanctions lists in October, accusing the group of operating large-scale “fraud centers” that exploited migrant workers. British sanctions targeted six entities and six individuals, while the US Treasury Department announced action against 146 people allegedly involved with Prince Group.
On the other hand, Chen Zhi had also made international headlines due to his cryptocurrency assets. As you may recall, in October 2025, the US Department of Justice announced that it had seized approximately 127,271 Bitcoins allegedly under Chen’s control. These assets were valued at approximately $15 billion at the time, making it one of the largest cryptocurrency confiscations linked to Southeast Asia. This development has been brought back into discussion following his recent detention in Cambodia and the extradition process to China.
While uncertainty persists as to whether the Prince Group chairman is indeed among the three extradited, China’s Foreign Ministry and public security agencies have yet to respond to requests for comment on the matter.
*This is not investment advice.