Prince Group’s Chen Zhi Arrested in Telecom Fraud Probe

2 mins mins

Key Points:

Chen Zhi arrested for telecom fraud and crypto scheme.
Singapore police froze assets worth S$150 million.
US DOJ seized Bitcoin valued at $14 billion.

Singaporean police arrested Chen Zhi and associates on October 30 for a transnational telecom and crypto fraud; assets totaling S$150 million, including Bitcoin, were seized.

This case highlights global financial crime complexities and potential market impacts of asset seizures in crypto-related fraud.

Chen Zhi’s Arrest Marks a $150 Million Asset Freeze

Chen Zhi, the chairman of Prince Group, was detained in Singapore on charges involving a cross-border telecom fraud network. Singapore police froze assets valued at over S$150 million, including real estate and luxury items.

These actions reflect heightened international enforcement efforts. The US Department of Justice had previously seized over US$14 billion in Bitcoin linked to Chen Zhi’s activities, as detailed in their press statement.

Market reactions indicate significant concerns about illegal use of cryptocurrencies. No public statements from Chen Zhi or the Prince Group were found across official channels.

Bitcoin’s Surge Amidst a $14 Billion Seizure Context

Did you know? In one of the largest financial crackdowns, authorities seized over US$14 billion in Bitcoin from a criminal syndicate led by Chen Zhi, underlining the scale of fraud involving cryptocurrencies.

Bitcoin prices remain strong despite recent seizures associated with Chen Zhi’s activities. According to CoinMarketCap, Bitcoin’s price is $109,602.82 with a market cap of $2.19 trillion and 24-hour trading volume at $61.16 billion, noting a subtle 1.86% surge in value over the past day.

bitcoin-daily-chart-4075 — Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 22:32 UTC on October 31, 2025. *Source: CoinMarketCap*

The Coincu research team indicates a strong focus on compliance will likely reduce fraudulent schemes in cryptocurrency. Enforcement actions underscore the sector’s need for stringent regulatory systems and improved due diligence processes among stakeholders for better market integrity.

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.