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Tokyo police arrest Prince Group exec in $15B Bitcoin scam probe

Market News
22 Jun 2026
Crypto Briefing
View Source
Bearish
Tokyo police arrest Prince Group exec in $15B Bitcoin scam probe

Tokyo police arrested Hu Xiaowei, a senior executive of the Prince Group, on false residency charges linked to one of the largest crypto frauds ever uncovered. The Prince Group is accused of running a massive $15 billion Bitcoin scam involving forced-labor "pig butchering" schemes that defraud investors worldwide. This arrest follows international efforts by the US, UK, China, and Japan to dismantle the group, which also involved seizing over 127,000 Bitcoin and freezing assets worth millions. The case highlights growing global cooperation to combat large-scale crypto fraud and protect investors from sophisticated scams.

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