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Prince Group executives arrested in Japan for false relocation reports
The core individual arrested is reportedly a multiple nationalities holder, using names such as "Chen Xiaoer," and authorities revealed his true identity as "Hu Shi" (pseudonym), born in China, holding a Cyprus passport, who was arrested on the 14th.
Previously, the UK government imposed sanctions on March 26 against Hu Xiaowei, who is closely associated with Prince Group founder Chen Zhi, labeling him as Chen Zhi's "long-term collaborator." Their connection dates back to the private server era of "Legend," and later they established multiple companies domestically and abroad. Both the US and UK governments have listed Prince Group as Asia's largest criminal gang and have imposed economic sanctions on it.
Prince Group founder Chen Zhi, from Fuzhou, Fujian, grew up in a fishing village, dropped out in the second year of middle school, started as a hacker, went to Cambodia in 2011, obtained Cambodian nationality in 2014, and founded Prince Group in 2015, turning it into one of the world's largest single online fraud networks, with an estimated net worth of hundreds of billions of dollars. In October 2025, the US and UK announced charges and confiscated approximately $15 billion worth of Bitcoin. In January 2026, Chen Zhi was stripped of his Cambodian nationality and extradited to China for investigation.