Singapore Seizes $115 Million in Assets Linked to Prince Group Fraud

2 mins mins

Key Points:

Authorities seize $115M assets tied to Prince Group’s alleged fraud.
Cambodia’s Chen Zhi is under investigation.
Bitcoin market impact and international scrutiny expected.

Singapore police seized over S$150 million in assets linked to Chen Zhi’s Prince Group on charges of transnational cryptocurrency fraud and money laundering as investigations widen.

This seizure underscores intensified global enforcement efforts, potentially impacting Bitcoin liquidity and heightening scrutiny on cryptocurrency transactions, stirring market unease.

Singapore Seizes S$150 Million Amidst $15 Billion Fraud Allegations

Authorities have seized over S$150 million in assets linked to Chen Zhi and Cambodia’s Prince Group, who are accused of running a transnational fraud ring. The Singapore police took action following reports from the United States and United Kingdom involving $15 billion in Bitcoin fraud. This operation has led to asset freeze orders on six properties and various financial assets held by Chen Zhi and his associates.

Bitcoin (BTC) currently trades at $109,672.98 with a market cap of $2.19 trillion, as per CoinMarketCap. Despite a negative 0.82% change in the past seven days, it remains a dominant force, with 59.05% market capture. Recent enforcement actions including this seizure can cause immediate fluctuations in market sentiment.

“As part of the operation, the police seized and issued prohibition of disposal orders against six properties and various financial assets, including bank accounts, securities accounts and cash, with a total estimated value of more than S$150 million.” — Singapore Police Force

Bitcoin Seizure Sparks Market Volatility and Regulatory Concerns

Did you know? The global cryptocurrency market has seen significant fluctuations in response to regulatory actions, often leading to increased volatility.

bitcoin-daily-chart-4072 — Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 20:02 UTC on October 31, 2025. *Source: CoinMarketCap*

Coincu experts highlight that such regulatory pushbacks can usher in stricter compliance measures, benefiting long-term market integrity. These actions typically shift focus toward enhanced legal frameworks across crypto platforms globally, reinforcing regulatory cooperation.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.