Cambodian authorities arrested and extradited Prince Group chairman Chen Zhi to China in early January 2026 and ordered liquidation of Prince Bank amid accusations of running large crypto 'pig‑butchering' fraud compounds. The move follows U.S. indictments and sanctions targeting billions in cryptocurrency tied to alleged scam networks.

In a major cross‑border law enforcement development, Cambodian authorities detained and extradited Prince Group chairman Chen Zhi to China between January 6 and 8, 2026, and the Cambodian central bank announced liquidation of Prince Bank, a Prince Group subsidiary, on January 8. The actions came after international scrutiny, U.S. and UK sanctions, and indictments alleging that Chen presided over organized operations that ran multibillion‑dollar 'pig‑butchering' and romance‑fraud crypto schemes. U.S. Department of Justice seizure efforts and follow‑on investigations targeted cryptocurrency wallets and exchanges believed to have handled proceeds, and authorities said the measures aim to disrupt complex networks that exploited victims globally. The extradition and bank liquidation signal stronger regional enforcement and cooperation on transnational crypto‑enabled fraud, and are likely to accelerate asset tracing and mutual legal assistance requests. Observers noted potential implications for other financial entities tied to the group and underscored the need for enhanced cross‑border investigations and regulatory scrutiny of crypto flows linked to alleged scam centers.