Chen Zhi / Prince Holding Group
Last changed 2026-10-16 · Community evidence — A moderator accepted a piece of community-submitted evidence: Treasury's June 23, 2026 press release confirms the sanctioning of 9 individuals and 26 entities linked to Prince Group TCO, including Hu Xiaowei's three BVI shell companies and the proposed FinCEN rule amendment covering H-Pay Service PLC, exactly as the note describes. This is a new, incriminating development against the page's subject. Trust score now 0. Version history →
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anchored·2cyFjv…KspfSummary
Chen Zhi (also known as 'Vincent'), age 37, is the founder and chairman of Prince Holding Group, a Cambodia-based multinational conglomerate indicted in October 2025 by a federal grand jury in the Eastern District of New York (EDNY) for operating forced-labor cryptocurrency fraud compounds across Cambodia. The U.S. Department of Justice filed a civil forfeiture action for approximately 127,271 BTC (valued at approximately $15 billion), the largest forfeiture action in DOJ history. Chen Zhi was arrested on January 6, 2026 in Cambodia and extradited to China; his Cambodian citizenship was revoked prior to extradition.
Connected Entities
6 entities · 60 linked investigations- Chen Zhi / Prince Group→mentioned with→Bitcoin(80%)
- Chen Zhi / Prince Group→mentioned with→LuBian(70%)
- Chen Zhi / Prince Holding Group→mentioned with→Bitcoin(70%)
- Prince Group Transnational Criminal Organization→mentioned with→Chen Zhi / Prince Group(85%)
- Prince Group Transnational Criminal Organization→mentioned with→Bitcoin(60%)
- Huione Group→mentioned with→Chen Zhi / Prince Group(85%)
- LuBian→mentioned with→Chen Zhi / Prince Holding Group(75%)
- Chen Zhi / Prince Holding Group→mentioned with→Huione Group(80%)
- Chen Zhi / Prince Holding Group→mentioned with→Prince Group Transnational Criminal Organization(80%)
- Chen Zhi / Prince Group→mentioned with→Huione Group(80%)
- + 8 more
Connected Through
6 shared actors · 488 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ♦Bitcointoken
- □Huione Grouporganization
- □Chen Zhi / Prince Grouporganization
- □Chen Zhi / Prince Holding Grouporganization
Community submissions
- https://home.treasury.gov/news/press-releases/sb0538(home.treasury.gov)
“Treasury press release for June 23, 2026 Prince Group TCO sanctions expansion — 9 individuals and 26 entities, including Hu Xiaowei's BVI shell companies and FinCEN H-Pay proposed rule.”
— avoid-scout(unverified)
3 submissions awaiting moderator review.
Timeline(11 events)
2015
Chen Zhi allegedly begins operating forced-labor cryptocurrency fraud compounds across Cambodia under Prince Group.
DOJ EDNY Indictment2018
Prince Group is alleged to be earning more than $30 million per day from fraudulent cryptocurrency investment schemes and related criminal activities.
TRM Labs Operation Prince ReportDecember 2020
Approximately 127,271 BTC allegedly moved to dormant unhosted wallets following a suspected internal event (referred to in blockchain analysis as the 'Lubian Hack' or insider transfer). Assets remain largely inactive for approximately four years.
TRM Labs Operation Prince Report2022
FBI takedown of a Chinese money laundering network in New York identifies 259 U.S. persons who collectively lost $18 million to scammers operating within Prince Group's network.
DOJ OPA Indictment Press ReleaseApril 2023
Chen Zhi allegedly travels to the United States despite an ongoing federal investigation.
TRM Labs Operation Prince ReportJune 2024
DOJ seizure operations begin; blockchain activity resumes in the previously dormant 127,271 BTC wallet cluster.
TRM Labs Operation Prince Report14 October 2025
EDNY indictment against Chen Zhi unsealed. DOJ files civil in rem forfeiture action for 127,271 BTC (~$15B), the largest in DOJ history. OFAC sanctions 146 targets in Prince Group TCO. U.K. FCDO sanctions Chen Zhi and freezes 19 London properties worth over £100 million.
DOJ Office of Public Affairs14 October 2025
FinCEN finalizes rule under Section 311 of the USA PATRIOT Act to cut Huione Group — a connected Cambodian financial conglomerate — off from the U.S. financial system.
U.S. Treasury Press ReleaseNovember 2025
Singapore Police Force seizes over SGD 150 million (~$115 million USD) in assets linked to Prince Group.
The Diplomat28 November 2025
South Korea imposes independent sanctions on 15 individuals and 132 entities tied to Prince Group, described as South Korea's largest single sanction measure in history.
CNBC6 January 2026
Chen Zhi arrested in Cambodia. Cambodia revokes his Cambodian citizenship and cancels his passport. He is extradited to China — not to the United States — following joint China-Cambodia investigative cooperation.
CNNDecision Log
- slot 457756434 · hash 8fyMfpKAEqFxUgK8sM9weTMdVG5ZZQGLcqttenbLX4Jy
- slot 457637852 · hash Ec5xbKfmm8xHgDceWVVCDCkdDecjBdydb2pP7AEM3eYL
- slot 425408811 · hash 6uXj2Mgjr8ybVjtU2zNRdEautVkauDWb6HPncsswnryK
- slot 425408808 · hash Sd2XJpVrmAipPYHnp5Y5HBzHcZTHAW9Bndj7YqM7EQ9
- slot 424990353 · hash FPoUQFsp7eFCA7b6HBUsu2BhABK85hizHD774MdeYkn4
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 17 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/7/2026, 11:09:04 PM
last updated: 10/16/2026, 12:29:32 PM
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