Japanese authorities have arrested a suspected senior figure linked to one of Asia’s largest crypto related criminal organizations, marking a major development in the fight against large scale cryptocurrency fraud.
Hu Xiaowei, also known as Hu Shi, was taken into custody by Tokyo Metropolitan Police after investigators tracked his movements across several luxury hotels in Osaka.
Police believe Hu is a high ranking member of Prince Group, a criminal network allegedly involved in large scale pig butchering scams and crypto investment fraud estimated to total around $15 billion in Bitcoin.
Prince Group Under Intensifying Pressure
Prince Group has been identified as one of Asia’s most significant organized crime networks, reportedly operating at least 10 scam compounds during the peak of its operations.
The group has been linked to extensive crypto related fraud schemes targeting victims across multiple countries.
Its suspected leader, Chen Zhi, was arrested in Cambodia and extradited to China in January.
In October 2025, the United States sanctioned 146 entities connected to Prince Group. The United Kingdom also imposed sanctions on several individuals allegedly tied to the organization.
Arrest Linked to Fraudulent Residency Filing
Hu Shi, who reportedly holds citizenship in both Cyprus and Cambodia, is currently facing charges related to immigration fraud.
Authorities allege he submitted false address change documentation in an attempt to secure permanent residency in Japan.
Two Chinese nationals were also arrested for allegedly helping file the fraudulent paperwork on his behalf.
Tokyo police stated that the individual listed under the name Chen Xiao’er in U.S. sanctions records is the same person as Hu Shi, who is now in custody.
Broader Investigation Continues
Authorities say investigations into both Hu Shi’s activities and Prince Group’s wider operations are ongoing.
The arrest could prove significant in efforts to dismantle one of the region’s most notorious crypto fraud networks, which has been accused of orchestrating large scale scams involving billions of dollars in stolen digital assets.
Law enforcement agencies are expected to continue examining Hu’s role in the organization, as well as potential links to additional criminal operations across Asia.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
