Li Xiong, identified as a senior member of a network that helped crypto scam operations move funds across Asia, was extradited from Cambodia to China to face fraud and money-laundering charges, Hong Kong outlet Ta Kung Wen Wei reported, citing a statement from China’s Ministry of Public Security on WeChat.
The ministry said a task force escorted Li from Phnom Penh to China on April 1 with assistance from Cambodian authorities. Li previously served as chairman of Huione Group, which supported scam centers in Cambodia that ran “pig butchering” schemes and other investment frauds targeting victims worldwide.
Research cited by Elliptic has linked Huione Group to one of the largest illicit online marketplaces, handling over $89 billion in crypto assets. Li’s extradition follows the arrest of Chen Zhi, head of Prince Group (which operates Huione), and high-profile enforcement actions: the U.S. Department of Justice reportedly seized 127,271 Bitcoin (BTC) worth more than $15 billion linked to Zhi, and the U.S. Treasury’s Financial Crimes Enforcement Network issued a rule directing U.S. banks to sever payment and account ties to Huione Group.
Ta Kung Wen Wei noted that other members of Chen Zhi’s syndicate have been detained “one after another,” quoting Chinese public security officials who said authorities will intensify efforts to capture fugitives and urged suspects to surrender promptly to seek leniency.
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