Beijing, Jan 8: China has confirmed the extradition of alleged cyber fraud kingpin Chen Zhi from Cambodia, marking a significant step in cross-border law enforcement cooperation amid growing international pressure over large-scale online scam operations in Southeast Asia.
Chen, a Chinese national accused of orchestrating multibillion-dollar cryptocurrency fraud schemes, was transferred from Phnom Penh to China under heavy security. Beijing described the move as a breakthrough in bilateral efforts to combat transnational crime.
The extradition came as Cambodian authorities announced the liquidation of Prince Bank, founded by Chen and operating under Prince Holding Group, one of the country’s largest conglomerates. Cambodia’s central bank said the lender has been barred from new banking activities, though depositors are still permitted to withdraw funds and borrowers remain obligated to service their loans.
The United States has accused Chen of presiding over a vast criminal network that used legitimate-looking businesses to conceal illicit activities. Washington alleges the group functioned as one of Asia’s most extensive transnational scam organisations, generating billions of dollars through online investment frauds commonly known as “pig butchering” schemes.
Chen was sanctioned by both the United States and the United Kingdom in October. US prosecutors have charged him with wire fraud and money laundering conspiracies and say digital assets worth more than US$11 billion were seized in connection with the case. If convicted in the United States, he could face up to 40 years in prison.
Rights groups and crime experts say the case has renewed scrutiny on Cambodia’s long-standing struggle with scam compounds, where trafficked workers are allegedly forced to carry out online fraud under threat of violence. Amnesty International has previously documented widespread abuses at dozens of such sites across the country.
Cambodian officials deny any state involvement, though Chen’s ties to senior political figures have drawn attention. His Cambodian citizenship was revoked last month, shortly before his arrest and extradition.
Chinese authorities said further arrests are expected, signalling a broader crackdown on individuals linked to Chen’s alleged criminal network as investigations continue across multiple jurisdictions.
