Bitcoin Linked to Prince Group as Singapore Police Freeze S$1.5B in Assets in Chen Zhi Case Amid Multinational Indictments

Caixin reports that the Cambodian Prince Group is suspected of operating a large-scale international fraud syndicate, with Chen Zhi identified as its leader.

Following mid-October indictments by the United States and United Kingdom against Chen Zhi, authorities said about $15 billion worth of Bitcoin had been seized.

In a parallel enforcement sweep, the Singapore Police announced asset-freezing actions against the network, with total holdings exceeding S$1.5 billion (roughly RMB 800 million), including six properties and diversified financial assets.

Authorities noted that Chen Zhi and associates are not in Singapore and the investigation remains active.