Courier-Based Pig Butchering Scam Network (FBI Warning June 2026)
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anchored·2g2aWy…MDYUSummary
In June 2026, the FBI's Internet Crime Complaint Center issued a formal public service announcement warning that cryptocurrency investment fraud operators — commonly operating 'pig butchering' schemes from forced-labor compounds in Southeast Asia — have adopted a physical courier variant to collect cash directly from victims when banks block electronic transfers. This hybrid approach uses in-person couriers authenticated via dollar bill serial numbers or pre-arranged passwords to collect cash from victims at their homes or public locations. Pig butchering scams caused Americans $11.37 billion in losses in 2025 alone, with the courier variant representing an escalation designed to circumvent traditional financial institution fraud controls.
Connected Entities
7 entities · 60 linked investigations- Chen Zhi / Prince Group→mentioned with→Bitcoin(80%)
- Chen Zhi / Prince Holding Group→mentioned with→Bitcoin(70%)
- Courier-Based Pig Butchering Scam Network (FBI Warning June 2026)→mentioned with→Bitcoin(65%)
- Huione Group→mentioned with→Chen Zhi / Prince Group(85%)
- Chen Zhi / Prince Holding Group→mentioned with→Huione Group(80%)
- Courier-Based Pig Butchering Scam Network (FBI Warning June 2026)→mentioned with→Huione Group(80%)
- Chen Zhi / Prince Group→mentioned with→Huione Group(80%)
- Courier-Based Pig Butchering Scam Network (FBI Warning June 2026)→mentioned with→Huang Xingshan(80%)
- Courier-Based Pig Butchering Scam Network (FBI Warning June 2026)→mentioned with→Jiang Wen Jie(80%)
- Huang Xingshan→mentioned with→Jiang Wen Jie(80%)
- + 7 more
Connected Through
6 shared actors · 455 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ♦Bitcointoken
- □Jiang Wen Jieorganization
- □Huang Xingshanorganizationalso inDOJ Global Pig Butchering Takedown — Ko Thet / Sanduo / Giant Company·0Ko Thet Company / Sanduo Group / Giant Company Pig-Butchering Network·0Ko Thet Company / Sanduo Group / Giant Company·0DOJ $25M Pig Butchering Seizure (July 2026)·0DOJ Scam Center Strike Force / Southeast Asia Pig Butchering Network·0
- □Huione Grouporganization
Timeline(14 events)
August 2021
Huione Group begins accumulating illicit cryptocurrency proceeds that will later be linked to pig butchering scams and other cybercrime, per FinCEN's subsequent investigation (covering August 2021 to January 2025).
FinCEN Final Rule2024
FBI launches Operation Level Up, a proactive initiative to contact active pig butchering victims before they lose all funds.
FBI Operation Level Up page14 February 2025
FBI reports Operation Level Up has notified more than 4,300 potential victims and saved an estimated $285 million.
The Daily HodlSeptember 2025
Pig butchering victim in Austin, Texas first contacted via LINE messaging app by individuals posing as investment advisers connected to a prominent Taiwanese business figure; directed to fake trading platform 'DAIQ.'
KXAN / HoodlineOctober 2025
DOJ files largest criminal forfeiture action in department history: approximately $15 billion in Bitcoin linked to Prince Holding Group (Cambodia) and founder Chen Zhi; FinCEN issues proposed rule to sever Huione Group from the U.S. financial system under PATRIOT Act Section 311.
DOJ / FinCEN15 October 2025
FinCEN issues final rule under PATRIOT Act Section 311 severing Huione Group — which laundered at least $4 billion in illicit proceeds including pig-butchering funds — from the U.S. financial system, effective November 17, 2025.
FinCEN.gov15 October 2025
Cash and gold bar handoffs between courier Tzu-Hung Hsu and the Austin victim begin, running through March 2026; transactions include parking lot cash exchanges and FedEx shipments of gold bars.
KXAN / USA Herald6 January 2026
Cambodian authorities arrest Prince Holding Group founder Chen Zhi; he is subsequently extradited to China rather than the United States.
CryptoTimes16 March 2026
Operation Atlantic: U.S. Secret Service, UK National Crime Agency, Ontario Provincial Police, and Ontario Securities Commission jointly identify 20,000-plus compromised wallet addresses across 30-plus countries; freeze $12 million; disrupt 120-plus domains.
CryptoTimes13 April 2026
Austin, Texas police arrest Taiwan-based courier Tzu-Hung Hsu, 34, in a bank sting at a Bank of America branch on West Slaughter Lane. He is charged with first-degree felony engaging in organized criminal activity in connection with a pig butchering scheme that defrauded an Austin victim of more than $1.4 million.
KXAN / Hoodline23 April 2026
DOJ Scam Center Strike Force unseals criminal complaints against Huang Xingshan ('Ah Zhe') and Jiang Wen Jie ('Jiang Nan') for managing the Shunda compound in Burma; 8,000 phones and 1,500 computers seized; $701.96 million in cryptocurrency restrained; 503 fake investment websites seized.
DOJ29 April 2026
Dubai Police arrest 275 individuals across 9 dismantled scam center compounds; coordinated global action results in at least 276 total arrests in connection with pig butchering operations.
CryptoTimes / IRS3 June 2026
DOJ Scam Center Strike Force announces results of 'Disruption Week': coordinated operation with major technology companies removes approximately 1.4 million scam-related accounts from digital platforms.
ScamWatchHQ15 June 2026
FBI IC3 publishes PSA I-061526-PSA formally warning the public — especially seniors — that cryptocurrency investment scam operators are dispatching physical couriers to collect cash from victims, authenticated via dollar bill serial numbers or passwords.
IC3.govDecision Log
- slot 462280074 · hash FZw5fywyx5WyPjs7ATHBrWtqV38NagQHBRNoq9mAZwGu
- slot 462280069 · hash 2jWCrunLe638r3CzQu3im8dM9AQzhkL4hWe12a8X6Bed
- slot 429878061 · hash 2kuRXdSedgoMZPjXNURozDUCoYQPUi65B171zSoDumQd
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 28 of 29 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/30/2026, 12:25:30 PM
last updated: 10/28/2026, 12:51:24 AM
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