{"id":78906,"date":"2026-04-03T05:01:32","date_gmt":"2026-04-03T05:01:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=78906"},"modified":"2026-04-03T05:01:32","modified_gmt":"2026-04-03T05:01:32","slug":"alleged-billion-dollar-crypto-scam-boss-handed-over-to-china","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=78906","title":{"rendered":"Alleged Billion-Dollar Crypto Scam Boss Handed Over To China"},"content":{"rendered":"
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Chinese authorities seized over 127,000 Bitcoin \u2014 worth more than $15 billion \u2014 from the head of a massive crypto fraud network. That seizure, tied to Chen Zhi of Prince Group, was just the opening move. Now his right-hand man is in custody too.<\/p>\n

Extradition From Phnom Penh<\/h2>\n

Li Xiong, former chairman of Huione Group<\/a>, was flown from Cambodia\u2019s capital to China on April 1 after a task force from China\u2019s Ministry of Public Security coordinated the transfer with Cambodian officials.<\/p>\n

He now faces fraud and money-laundering charges<\/a>. Hong Kong-based outlet Ta Kung Wen Wei first reported the development, citing a statement from the Ministry posted on WeChat.<\/p>\n

Xiong\u2019s arrest follows Chen Zhi\u2019s by about three months, suggesting Chinese law enforcement has been working through the syndicate\u2019s leadership in stages.<\/p>\n

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Arrested and released within hours back in January. Two months later, Li Xiong has been extradited to China. CCTV is calling him a core member of Chen Zhi\u2019s criminal gang. Chen Zhi was extradited in January too. https:\/\/t.co\/Y9pYI30Ysp<\/a> pic.twitter.com\/xHSY6NvYFX<\/a><\/p>\n

\u2014 Jacob in Cambodia \"\ud83c\uddfa\ud83c\uddf8\" \"\ud83c\uddf0\ud83c\udded\" (@jacobincambodia) April 1, 2026<\/a><\/p>\n<\/blockquote>\n

Huione Group operated as the financial backbone for scam operations<\/a> spread across Southeast Asia. These included so-called \u201cpig butchering\u201d schemes \u2014 long-con frauds where criminals build fake online relationships with victims before draining their savings through fake investment platforms.<\/p>\n

The group processed over $89 billion in crypto assets, according to blockchain analytics firm Elliptic, making it one of the largest illicit financial operations ever documented.<\/p>\n

A Network Built On Stolen Crypto<\/h2>\n

The syndicate\u2019s reach<\/a> extended well beyond Cambodia. Victims around the world lost money to scam centers that funneled proceeds through Huione\u2019s infrastructure.<\/p>\n

<\/p>\n

In October, the US Treasury Department\u2019s Financial Crimes Enforcement Network cut Huione Group off from the American banking system entirely, ordering US financial institutions to close any accounts or payment channels linked to the group. That move effectively froze the network\u2019s access to dollar-denominated finance.<\/p>\n

Around the same time, the US Department of Justice announced it had seized 127,271 Bitcoin<\/a> connected to Chen Zhi. At current values, that haul exceeds $15 billion \u2014 one of the largest crypto seizures in history.<\/p>\n

Authorities Warn Remaining Members<\/p>\n

Chinese officials are not done. Ta Kung Wen Wei reported that several other members of the syndicate have already been brought to justice. Officials issued a public warning to anyone still at large, urging them to turn themselves in and cooperate in exchange for more lenient treatment.<\/p>\n

\u201cPublic security authorities will continue to intensify efforts to capture fugitives,\u201d the outlet quoted officials as saying.<\/p>\n

The message was blunt: the window to surrender is open, but it will not stay open long. With two of the group\u2019s top figures now in Chinese custody and its finances cut off from the US banking system, what remains of the Huione network appears to be running out of room.<\/p>\n

Featured image from Getty Images, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Chinese authorities seized over 127,000 Bitcoin \u2014 worth more than $15 billion \u2014 from the head of a massive crypto fraud network. That seizure, tied to Chen Zhi of Prince Group, was just the opening move. Now his right-hand man is in custody too. Extradition From Phnom Penh Li Xiong, former chairman of Huione Group, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-78906","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/78906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=78906"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/78906\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}