Arrest in Tokyo: Key figure in the Prince Group case and $15 billion in bitcoin detained
Tokyo police have detained Hu Xiaoyue (also known as Hu Shi), believed to be one of the leaders of Cambodia's Prince Group — one of the largest transnational fraud networks in Asia. The arrest took place on June 14, but it only became known on the 22nd. The suspect is a 44-year-old Cypriot citizen.
The formal reason for the arrest was the submission of knowingly false information about his place of residence. In April, Hu filed a notice of moving to Tokyo's Chuo Ward, but it turned out he was actually living elsewhere. During interrogation, he stated that a trusted person handled the paperwork and he did not look into the details. Police tracked Hu down through surveillance camera footage at expensive hotels in Osaka, where he was detained. Two Chinese citizens suspected of aiding him were also arrested.
Global Reach of Prince Group
This detention is just one episode in a large-scale case against Prince Group. In October 2025, U.S. authorities imposed sanctions on the group and 146 related individuals and companies. According to the U.S. Department of Justice, the group operated fraud compounds from Cambodia, where people were forced under threat of violence to participate in "pig butchering" schemes — fake investment scams.
A key moment was the U.S. Department of Justice's confiscation of approximately 127,271 BTC (worth about $15 billion at the time) — the largest asset seizure in the country's history. The bitcoins were linked to Prince Group founder and chairman Chen Zhi, who was arrested in Cambodia in January 2026 and extradited to China. The U.S. sanctions list included the name "Chen Xiaoer," and Japanese authorities believe this is the same person as Hu Xiaoyue.
Interestingly, the company where Hu is listed as director was registered in Tokyo in April 2023 for trading activities. Its authorized capital grew from 8 million to approximately 50 million yen (about $340,000) by March 2026. This indicates that Prince Group was actively trying to legitimize its operations in Japan using shell companies.
My analysis: The arrest of Hu Xiaoyue in Japan is a serious blow to Prince Group's operational network. The fact that a key figure was hiding in one of the world's most technologically advanced countries, using shell companies and false documents, underscores how sophisticated the methods of transnational crypto fraudsters have become. The confiscation of $15 billion in BTC is not just a record; it is a signal to the entire market: law enforcement systems are beginning to effectively track and seize digital assets obtained through criminal means. For investors, this is another reminder of the critical importance of due diligence and caution with any investment offers promising extraordinary returns.