Li Xiong, identified as a key member of an alleged crypto-linked criminal network, has been extradited from Phnom Penh, Cambodia, to China to face fraud and money laundering charges. According to official statements, the transfer took place on April 1 after coordination between Chinese authorities and Cambodian officials. A task force sent by China’s Ministry of Public Security escorted Li back to China following his detention in Cambodia.
Authorities described Li as a core figure within the Chen Zhi criminal syndicate. He previously served as chairman of Huione Group, an organization accused of supporting scam centers operating across Cambodia and other parts of Southeast Asia.
Huione Group Accused of Handling Billions in Illicit Crypto
Investigators allege that Huione Group operated one of the largest illicit online marketplaces globally. The group is accused of helping move funds tied to “pig butchering” scams and other fraudulent investment schemes that targeted victims worldwide. Reports indicate that the platform handled more than $89 billion worth of cryptoassets linked to illicit activities.
Li Xiong’s extradition follows the earlier arrest of Chen Zhi, the head of Prince Group, which operated Huione Group. In October, authorities in the United States seized 127,271 Bitcoin valued at over $15 billion that were linked to Chen Zhi.
Authorities Warn Remaining Syndicate Members to Surrender
Officials stated that several other members connected to Chen Zhi’s network have already been detained in recent months. Law enforcement agencies emphasized that operations to capture fugitives will continue, urging remaining suspects to surrender voluntarily in exchange for the possibility of more lenient treatment under the law.
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