US DOJ Freezes $15 Billion in Bitcoin Linked to Prince Group Founder

Chen Zhi’s extradition to China marks a new phase in the global investigation into alleged fraud and $15 billion Bitcoin seizures.

BTC

64d ago

Summary

On Jan. 7, 2026, China’s Ministry of Public Security extradited Prince Group founder Chen Zhi from Phnom Penh to face charges including operating casinos, fraud, and illegal trading. This follows the October 2025 action by the U.S. Department of Justice, which froze 127,000 Bitcoin valued at $15 billion linked to Chen Zhi. US and UK authorities also charged him, while Singapore froze family-owned assets worth 150 million SGD, including luxury properties and vehicles.

Terms & Concepts

U.S. Department of Justice (DOJ): The primary federal law enforcement agency of the United States, responsible for prosecuting federal crimes and overseeing legal affairs.
Bitcoin (BTC): A decentralized digital currency operating on a blockchain, used for peer-to-peer transactions without intermediaries.
Asset Freeze: A legal measure preventing the transfer, sale, or use of an individual or organization’s financial assets during investigations or litigation.