Li Xiong, a central member of a group aiding crypto scam rings in Asia, has been extradited from Cambodia to China. He will face fraud and money-laundering charges related to his role in the Huione Group, which facilitated large-scale crypto scams.
- Li Xiong, a key member of a group aiding crypto scam rings in Asia, has been extradited from Cambodia to China.
- Xiong previously served as chairman of Huione Group, which facilitated 'pig butchering' frauds and other investment schemes to steal cryptocurrency.
- The Huione Group was responsible for an illicit online marketplace handling over $89 billion in crypto assets.
- Chen Zhi, the head of Prince Group, was arrested in October, and the U.S. Department of Justice seized 127,271 Bitcoin (BTC) worth more than $15 billion from Zhi.
- U.S. banks were directed to cut payments and accounts tied to the Huione Group in October.
- Chinese authorities are intensifying efforts to capture remaining members of Zhi’s criminal syndicate.
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