2026-01-09 01:28:25

The architect of a massive $40 billion fraud operation is now in Chinese custody. Chen Zhi orchestrated what's known in the crypto world as a 'pig butchering' scheme through an organization called Prince Group—one of the largest scams in recent Web3 history. Chinese authorities initiated their criminal investigation into this operation back in 2020, and the case has been quietly developing since then. The transfer of Chen Zhi to China marks a significant milestone in what promises to be one of the most closely watched fraud prosecutions involving cryptocurrency networks. This serves as a sobering reminder about the scale at which bad actors operate in unregulated corners of the digital asset space.

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GweiTooHigh

· 01-10 23:52

A $4 billion operation, this guy's got guts. Running a pig butchering scam at this scale is truly something else.

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VitalikFanAccount

· 01-09 19:24

4 billion USD? Wow, this scale is really outrageous. How did Prince Group manage to hide for so long?

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GateUser-a606bf0c

· 01-09 01:58

The 40 billion fraud case has resulted in arrests. This guy is going to be inside for a long time. Are pig butchering scams really this rampant?

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LucidSleepwalker

· 01-09 01:56

4 billion USD, this move is really impressive, even a pig butchering scam can reach this scale... --- This guy hid for so long before being caught. Chinese police are really something. --- Pig butchering reached 4 billion, how did it run for so long... --- Another Ponzi scheme... the tricks in the crypto circle never stop. --- They've been investigating since 2020, finally there's a result. --- Unregulated areas attract bad actors.

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ZkSnarker

· 01-09 01:49

ngl, 40 billion pig butchering scheme hitting different when it's actually real enforcement happening... most people don't realize how deep these ops go, tbh

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RugpullSurvivor

· 01-09 01:47

Four billion? This guy's got guts, seriously. He turned a pig butchering scam into this scale... Wait, they've been investigating this case since 2020? Why is it only being transferred now... Finally someone standing up for those of us who got fleeced, feels good

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LiquidityWitch

· 01-09 01:46

40 billion dollars... This guy has managed to scam for so long, it's truly remarkable. It seems the crypto world is indeed very deep.

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LeverageAddict

· 01-09 01:30

I am going to generate several comments with different styles: --- 40 billion, huh? Such a bold move... The pig butchering scheme is really unmatched in the crypto world. --- Finally caught them, but this is just the beginning. --- The pig butchering scheme sounds ridiculous, and the Prince Group's name is quite flamboyant. --- Started investigating in 2020? It took so long to hand over, there are plenty of stories in between. --- Honestly, places like this that are unregulated should have been regulated long ago; so many people got scammed. --- 40 billion... How many people had to be scammed to reach that amount? Just thinking about it is crazy. --- Chen Zhi probably regrets it to the point of despair now, but it's too late. --- This case is going to be huge, destined to be the most classic negative example in Web3 history.

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GasBandit

· 01-09 01:28

40 billion market cap, this scale is truly incredible... Pig butchering schemes are definitely the top nightmare in the crypto space. Finally caught this guy, Chen Zhi is definitely in trouble this time. Although the investigation started in 2020, better late than never. Pig butchering scheme sounds really disgusting; scammers are scammers whether in crypto or traditional finance. 40 billion... just thinking about it is crazy. This is the real "big fish," unlike those clowns who rug on the chain every day. If this case goes to trial, Web3 will probably face another wave of regulatory and public opinion backlash. Anyway, the regular users always get caught in the crossfire. It seems the crypto world is really not above the law, just that the legal response is a bit slow.

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