Prince Group’s No. 2 Figure Arrested in Japan as US and Singapore Join Crackdown on $15 Billion Scam Network
International authorities are tightening the net around Cambodia-based Prince Group, one of Asia’s largest alleged cyber fraud networks.
Japanese police have arrested Hu Xiaowei, a senior Prince Group executive, on suspicion of submitting false residency information. Hu, described by U.S. authorities as the group’s second-in-command, was reportedly living in Japan under another identity while applying for permanent residency.
The arrest comes after the U.S. imposed new sanctions targeting nine individuals and 26 companies linked to Prince Group, accusing the network of running large-scale crypto scams, money laundering, human trafficking, and forced-labor scam compounds across Southeast Asia.
U.S. investigators allege Prince Group operated “pig butchering” investment scams, using fake cryptocurrency platforms to deceive victims worldwide, with losses estimated at more than $10 billion.
Singapore has also launched investigations into Hu Xiaowei and another Chinese national, Qiu Wei Ren, over suspected money laundering activities linked to Prince Group. Authorities said millions of dollars in assets connected to Hu had already been seized or frozen.
The latest actions follow earlier sanctions against Prince Group founder Chen Zhi and more than 140 related entities. Several senior figures have since faced arrests, asset seizures, or international investigations.
With Japan, Singapore, the U.S., and other countries now working together, the crackdown signals growing global efforts to dismantle organized crypto fraud networks.
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