Prince Group's Chen Zhi was arrested and deported to China! US seizes $14 billion worth of Bitcoin, Taiwan places encrypted water farm head under detention

Cambodia-China Times reports that Crown Prince Group founder Chen Zhi has been arrested and deported to China, and the US previously seized $14 billion worth of Bitcoin. Taiwanese prosecutors and police simultaneously detained the person in charge of the water farm in Taiwan and are investigating illegal fund flows totaling up to NT$4.5 billion.

Chinese Media: Crown Prince Group Founder Chen Zhi Arrested and Deported to China

A major breakthrough has finally been made in the highly watched money laundering and fraud case involving Crown Prince Group in Taiwan! According to Cambodia-China Times last night (1/7), Crown Prince Group founder and chairman Chen Zhi was arrested in Cambodia and was deported back to China yesterday. He is currently under investigation by relevant authorities.

The US Department of Justice last year accused Chinese national Chen Zhi and Crown Prince Group of orchestrating large-scale scams in Cambodia, stealing billions of dollars in cryptocurrency from victims worldwide.

Currently, the US has confiscated Bitcoin worth over $14 billion that is allegedly related to Chen Zhi. US authorities describe this as the largest cryptocurrency seizure in US history.

Image source: Crown Prince Group press release Crown Prince Group founder and chairman Chen Zhi

Crown Prince Group executives detained in Taiwan, first crypto water farm also arrested

The criminal activities of Crown Prince Group have also extended to Taiwan. Prosecutors and police investigations revealed that Crown Prince Group is suspected of using Taiwan as a money laundering intermediary, with illegal funds flowing as high as NT$4.5 billion. Last year, they seized luxury residences like “Peace Grand Garden,” several supercars, large sums of cash, and detained more than four executives in Taiwan.

Related reports:
Crown Prince Group money laundering case: NT$4.5 billion seized in Taiwan! Tianxu assistant released on NT$150,000 bail, HR director and operator detained

On January 5th, the Taipei District Prosecutors Office first uncovered a cryptocurrency “water farm” personally established by group chairman Chen Zhi in Taiwan. According to United News Network, the prosecution launched an arrest operation, bringing in water farm manager Chen Wei Zhi and his brother Chen Wei Xiang, who opened the “Cigar Vie” cigar shop in Xinyi District, for investigation.

The prosecution believes that Chen Wei Zhi is a key figure in handling Crown Prince Group’s illegal funds, with risks of tampering, destroying evidence, and fleeing. They immediately applied for detention and court custody, and the case was heard on January 6.

Crown Prince Group hires lawyers across borders to fight back, Singapore top schools cut ties urgently

Before Chen Zhi’s arrest, Crown Prince Group issued a statement denying the allegations, emphasizing that the reports were false, and stated that they had hired a renowned New York law firm, Boies Schiller Flexner, to form a defense team.

Image source: Crown Prince Group press release Before Chen Zhi’s arrest, Crown Prince Group also issued a statement denying the allegations and emphasizing that the reports were false.

Additionally, United Morning Post reported that National University of Singapore and Nanyang Technological University had collaborated with Crown Prince Group to arrange student visits to Cambodia. Both top Asian universities confirmed that such visits had taken place but emphasized that they currently have no cooperation with the group.

Related reports:
Crown Prince Group: We Have No Fraud with Chen Zhi! Foreign media reveal Singapore universities previously visited Cambodia with the group

Crown Prince Group money laundering case unexpectedly triggers US-China roadside mining pool dispute

This case has unexpectedly sparked a dispute over digital asset sovereignty between China and the US. China’s national cybersecurity agency, the “National Computer Virus Emergency Response Center,” previously accused that the US government led hacking operations to steal approximately 127,000 Bitcoin from the LuBian Pool, which was later seized under judicial authority.

The US insists it lawfully confiscated the proceeds of fraud, but Chinese reports criticize this move as “black eating black,” and argue that the US unilaterally controls assets without judicial cooperation, violating international law principles.

These priceless Bitcoins have now evolved from mere criminal proceeds into bargaining chips in the digital financial rivalry between China and the US.