The Rise and Fall of the Taizi Group:

Chen Zhi is deported back to China, 127,000 Bitcoins seized by the US

The founding story of Chen Zhi and the Taizi Group

1/ Early Background and Overseas Expansion

Public information generally describes Chen Zhi as being from Lianjiang, Fujian Province. Details of his early life are scarce and mixed, but a key point is that he entered Cambodia around 2011 and gradually focused his core resources and business activities there.

Over the years, he has built business and social relationships locally. Media reports have also frequently mentioned his close ties to political and business circles.

2/ 2015 Establishment of Taizi Group, Building External Narratives

Official and media materials about the Taizi Group generally state that it took shape around 2015, operating under the names Prince Group or Prince Holding Group. The public narrative mainly revolves around real estate development, financial services, consumer investments, and diversified investments.

At this stage, the focus was not on any specific project but on creating a corporate empire narrative. The larger and more complete the group appeared as a business empire, the easier it was to attract cooperation, financing, projects, and local resources.

3/ Financial Licenses as Amplifiers, from Microfinance to Commercial Banks

A key milestone in the group's expansion was obtaining financial licenses. Public information about Prince Bank shows that its predecessor operated as a microfinance institution in 2015, and on July 18, 2018, it received a commercial banking license from the National Bank of Cambodia and transitioned into a commercial bank.

This step was significant: having a bank or bank-like system allows for smoother capital inflows and outflows, credit granting, project financing, and asset allocation, making the group appear more legitimate, sustainable, and capable of large-scale growth.

4/ Post-2018 Multi-Channel Expansion, Simultaneous Real Estate and Public Image Promotion

After obtaining the banking license, reports and data describe Prince Group as a rapidly expanding diversified conglomerate in Cambodia, with businesses spanning finance, real estate, and various investment sectors. The group also continued to strengthen its public image through charity work and event sponsorships.

Meanwhile, more pointed investigations emerged, linking its operations to park zones and cross-border capital flows, raising suspicions of money laundering and fraud. The group and related parties have denied some of these allegations, but controversy has never fully disappeared.

5/ 2025 Turning Point: US and UK Sanctions and US Legal Actions Directly Seize Assets

The real breaking point occurred in 2025. The US Department of Justice initiated prosecution and asset seizure actions related to Chen Zhi. The US and UK also imposed sanctions on Chen Zhi and related entities, targeting transnational fraud and money laundering networks.

Multiple reports mention that seized or frozen crypto assets amounted to approximately 127,271 Bitcoins, described as one of the largest crypto enforcement seizures.

In such cases, funds are usually seized first because they serve as evidence of the money trail and act as deterrents. Once on-chain assets are locked and legal procedures completed, ownership is systematically redefined.

6/ Late 2025 to Early 2026: Cambodia Revokes Citizenship and Deports Chen Zhi, Who Faces Chinese Legal Proceedings

Subsequently, reports indicate that Cambodia revoked his citizenship and detained him. At China's request, he was deported back to China.

Chinese authorities took coercive measures against him, and the case entered domestic investigation and judicial procedures.

7/ Core Logic of the Rise

Summarized in one sentence: the group used a shell company to create a credible appearance, expanded scale with financial licenses and real estate projects, and completed cycles through cross-border capital flows. Once international law enforcement recognized this cycle as part of a transnational criminal network, the typical outcome was asset seizure and the individual’s detention.

This is the actual path of the Taizi Group’s myth collapse. No legends, only processes. Money goes to the US, people to China, and what remains are courts and liquidation tables.