Following the arrest and extradition of Chen Zhi—accused by U.S. prosecutors of running a global ‘pig‑butchering’ crypto and online fraud network—Cambodia’s central bank suspended Prince Bank and placed it into liquidation. The move accompanies international asset freezes and cross-border enforcement actions against alleged scam operations and crypto-enabled money laundering.

Cambodia’s central bank placed Prince Bank into liquidation after suspending its operations in the wake of the arrest and extradition of Chen Zhi, who U.S. prosecutors allege led a transnational ‘pig‑butchering’ fraudulent network that used romance scams, crypto platforms and scam compounds to deceive victims and launder proceeds. The Jan. 2026 enforcement measures came as authorities in multiple jurisdictions coordinated seizures, account freezes and investigations into associated entities and assets. Regulators cited serious concerns about Prince Bank’s ties to businesses and accounts linked to the alleged network and said liquidation aimed to protect depositors and facilitate asset recovery. The action is part of a broader international law enforcement response targeting crypto-enabled fraud, alleged money-laundering channels, and physical scam compounds where victims were coerced or isolated. U.S. prosecutors have also sought forfeiture of assets and pursued extraditions; Chen Zhi’s transfer prompted scrutiny of cross-border financial flows and weaknesses in regional oversight. The liquidation underscores increased global pressure on banks and intermediaries implicated in facilitating proceeds from large-scale online scams and the challenges of tracing crypto assets across jurisdictions.