Chen Zhi / Prince Holding Group
Summary
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 Chen Zhi was arrested on January 6, 2026 in Cambodia and extradited to China; his Cambodian citizenship was revoked prior to extradition.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
1 entities · 10 linked investigationsTimeline(11 events)
2015-01-01
Chen Zhi allegedly begins operating forced-labor cryptocurrency fraud compounds across Cambodia under Prince Group.
DOJ EDNY Indictment2018-01-01
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 Report2020-12-01
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 Report2022-01-01
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 Release2023-04-01
Chen Zhi allegedly travels to the United States despite an ongoing federal investigation.
TRM Labs Operation Prince Report2024-06-01
DOJ seizure operations begin; blockchain activity resumes in the previously dormant 127,271 BTC wallet cluster.
TRM Labs Operation Prince Report2025-10-14
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 Affairs2025-10-14
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 Release2025-11-01
Singapore Police Force seizes over SGD 150 million (~$115 million USD) in assets linked to Prince Group.
The Diplomat2025-11-28
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.
CNBC2026-01-06
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
- hash: FPoUQFsp7eFCA7b6HBUsu2BhABK85hizHD774MdeYkn4
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/7/2026, 11:09:04 PM
last updated: 6/7/2026, 11:09:13 PM
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