WLFI partner AB Network reported to be connected to sanctioned Cambodian scam-related companies

ME News Report, April 9 (UTC+8), AB network, which partnered with Trump-supported crypto project World Liberty Financial, has a “Blockchain-themed Resort” project planned in East Timor involving three individuals who have been sanctioned by the U.S. Treasury Department. These individuals are connected to the Cambodian Prince Group, which is accused of operating a global scam network. Company records show that the major shareholder of the development company, Yang Jian, was sanctioned last October for allegedly collaborating with Prince Group CEO Chen Zhi. The three sanctioned individuals have been removed from the project following the sanctions announcement, and there is currently no evidence of illegal fund inflows into the development project or direct links between AB network and Prince Group. AB network announced in November last year that it had established a partnership with World Liberty Financial, granting permission to use the stablecoin USD1 on its blockchain. World Liberty Financial stated it conducted due diligence on AB and was not informed of the resort project or the sanctioned individuals related to the East Timor project. Its lawyers said claims of connections to sanctioned persons are “baseless and false.” According to the FBI’s 2025 Internet Crime Report, the U.S. lost nearly $21 billion last year due to online scams, with over $11 billion related to cryptocurrency fraud. The U.S. government seized $15 billion worth of Bitcoin from Chen Zhi last year. Cambodian authorities arrested Chen Zhi in January and extradited him to China. Currently, the maximum total supply of USD1 on the World Liberty Financial blockchain for AB network is about $3.6 million, held by approximately 3,000 people. (Source: ODaily)