WLFI partner AB Network linked to sanctioned Cambodian scam-related companies

ME News message, April 9 (UTC+8): AB network, a crypto project that partnered with World Liberty Financial, which is supported by Trump, has a “blockchain-themed resort” project planned in Timor-Leste that involves three individuals later sanctioned by the U.S. Department of the Treasury. These individuals are linked to Cambodia’s Prince Group. Company records show that the project developer’s largest shareholder, Yang Jian, was sanctioned last October for allegedly cooperating with Prince Group CEO Chen Zhi. After the sanctions were announced, the three sanctioned individuals have been removed from the project. At present, there is no evidence indicating that illegal funds flowed into the development project, or that AB network has a direct connection to Prince Group.

AB network announced in November last year that it had established a partnership with World Liberty Financial, authorized to use the stablecoin USD1 on its blockchain. World Liberty Financial said it conducted due diligence on AB and stated it was not informed about the resort project or the sanctioned individuals related to the Timor-Leste project. Its lawyer said claims that there is an association between the resort and the sanctioned individuals are “baseless and untrue.”

According to the FBI’s 2025 Internet Crime Report, Americans lost nearly $21 billion to cyber scams last year, including more than $11 billion in cryptocurrency-related fraud losses. Last year, the U.S. government seized $15 billion worth of Bitcoin from Chen Zhi. Cambodian authorities arrested Chen Zhi in January this year and extradited him to China. Currently, the maximum total supply of USD1 on the World Liberty Financial blockchain held by AB network is about $3.6 million, with only about 3,000 holders. (Source: ODAILY)