Li Xiong, a senior figure at Huione Group, an alleged money-laundering network for crime organizations, was extradited to China from Cambodia.
“On April 1, with the strong support of relevant Cambodian departments, the Ministry of Public Security sent a working group to successfully escort Li Xiong, a core member of the Chen Zhi criminal group, back home from Phnom Penh, Cambodia,” a news outlet reported.
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According to media reports, he is suspected of several offenses. These range from operating casinos to fraud, illegal business activities, and the disguise of criminal proceeds.
“A relevant official from the Ministry of Public Security stated that several core members of the Chen Zhi criminal syndicate have already been apprehended. Law enforcement authorities will continue to intensify efforts to capture remaining fugitives,” the report added.
Authorities arrested Chen Zhi, chairman of Prince Group, the company behind Huione Group, roughly three months ago. Reports from October indicated that the US Department of Justice confiscated over 127,000 Bitcoin (BTC) linked to Zhi.
Huione Group has faced sanctions from multiple governments, including the United States, the United Kingdom, and South Korea. In October, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) ordered US financial institutions not to open or maintain a correspondent account for, or on behalf of, Huione Group.
According to FinCEN’s findings, the group received at least $4 billion in illicit funds between August 2021 and January 2025.
Meanwhile, Chainalysis data shows the broader ecosystem remains resilient. Chinese-language money laundering networks (CMLNs) processed $16.1 billion in 2025. These networks have processed around 20% of illicit crypto funds over the past five years
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