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Major Figure in $15 Billion Bitcoin Scam Network Arrested in Tokyo

Hu Shi is allegedly a senior member of Prince Group, which has been sanctioned by the U.S. authorities

Tokyo Metropolitan police have arrested alleged crypto crime kingpin Hu Xiaowei, aka Hu Shi, after monitoring his actions throughout numerous luxurious inns in Osaka.

Hu is believed by police to be a high-ranking member of Prince Group, which CryptoPotato has reported is answerable for high-level pig-butchering scams and funding fraud totaling $15 billion in Bitcoin.

Fall of an empire

Prince Group is considered one of Asia’s largest organized teams, working not less than 10 rip-off compounds staffed on the top of its energy. The suspected chief of the group, Chen Zhi, was arrested in Cambodia and extradited to China in January.

The U.S. authorities sanctioned 146 entities linked to the group in October 2025, and the British authorities has blacklisted a number of people for alleged ties to the Prince Group.

A nationwide of Cyprus and Cambodia, Hu Shi is at present charged with submitting a fraudulent change-of-address kind to acquire everlasting residency in Japan.

Two Chinese nationals had been arrested for submitting paperwork on his behalf. Tokyo police mentioned that the person named Chen Xiao’er on the U.S. sanctions record is identical particular person because the Hu Shi they now have in custody, and {that a} wider investigation into Prince Group and Hu’s involvement continues to be underway.

The submit Major Figure in $15 Billion Bitcoin Scam Network Arrested in Tokyo appeared first on CryptoPotato.

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