Crypto Crime: Huione Leader Extradited to China

Li Xiong, a central figure in an alleged criminal organization linked to cryptocurrency fraud, has been extradited from Cambodia to China. The extradition took place on April 1st, with a task force from China’s Ministry of Public Security successfully escorting him from Phnom Penh.

Allegations Against Li Xiong and Huione Group

Li Xiong previously served as chairman of Huione Group, which authorities allege facilitated money laundering for crypto scam rings operating in Asia. These scams reportedly included “pig butchering” schemes and other investment frauds designed to steal cryptocurrency from victims globally.

Connection to Chen Zhi Criminal Syndicate

Xiong is described as a core member of the Chen Zhi criminal syndicate. His extradition follows the arrest of Chen Zhi, the head of Prince Group – the parent company of Huione Group – three months prior.

Broader Crackdown on Crypto Crime

According to Hong Kong-based news outlet Ta Kung Wen Wei, several other members of Zhi’s criminal syndicate have been apprehended. Chinese public officials have stated that efforts to capture fugitives will continue to be intensified.

Call for Surrender

Authorities are urging remaining Huione members to surrender. They have warned criminals to “recognize the situation, stop before it is too late, surrender as soon as possible, and strive for lenient treatment,” as reported by Ta Kung Wen Wei.

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