Arrest in Japan: Key figure in the Prince Group case and bitcoins worth $15 billion
Tokyo police have dealt a serious blow to one of Asia's largest transnational fraud networks. On June 14, Hu Xiaowei (also known as Hu Shi), the alleged head of Cambodia's Prince Group, was arrested. The information about the arrest was officially made public on June 22. The detainee is a 44-year-old Cypriot citizen.
Formal Pretext and Real Scale
Formally, Hu is accused of submitting false information about his place of residence. In April, he notified authorities of a move to Tokyo's Chuo Ward, but it turned out he was actually living elsewhere. During interrogation, he stated that he had delegated the paperwork to a trusted person and did not delve into the details. Police tracked down the suspect by analyzing surveillance camera footage from expensive hotels in Osaka. Two Chinese citizens, suspected of aiding him, were also detained along with him.
Connection to the Prince Group Case and Bitcoin Seizure
This arrest is a direct continuation of the large-scale investigation into Prince Group's activities. Recall that in October 2025, the U.S. Department of Justice imposed sanctions on this group and 146 associated individuals. According to U.S. authorities, a network of so-called "pig butchering" complexes was operated from Cambodia — fraudulent schemes involving fake investments where people were held under threat of violence.
As part of the same case, the U.S. Department of Justice seized approximately 127,271 BTC worth about $15 billion. This is the largest asset seizure in the country's history. The bitcoins are linked to Prince Group founder and chairman Chen Zhi, who was arrested in Cambodia in January 2026 and extradited to China. The name "Chen Xiaoer," appearing in the sanctions lists, is identified by Japanese authorities with the detained Hu Xiaowei.
The company where Hu is listed as director was registered in Tokyo in April 2023. Its authorized capital grew from 8 million to approximately 50 million yen (about $340,000) by March 2026. Representatives of Prince Group have previously called the accusations by U.S. and British authorities baseless.
Expert opinion: The arrest of Hu Xiaowei is not just an episode involving false registration. It is a signal that Japanese law enforcement has actively joined the global hunt for assets and key figures of Prince Group. Given the scale of the seized bitcoins, we will likely see a further chain of extraditions and arrests. This case finally blurs the line between traditional financial crimes and the cryptocurrency sphere, demonstrating that anonymity is not a guarantee of security.