Prince Group Executive Arrested Over $15B Bitcoin Scam Investigation

Tokyo police arrested Hu Xiaowei, a 44-year-old Cypriot national of Chinese descent, on June 22 for allegedly falsifying residency documents. The charge is linked to his ties with the Prince Group, an organization accused of running one of the most sprawling crypto fraud operations in history.

The group's activities led to the seizure of approximately 127,271 Bitcoin by US authorities in October 2025, valued at around $15 billion at the time. This is among the largest financial forfeitures the Department of Justice has ever executed.

Hu Xiaowei was sanctioned by both the US and UK governments for his ties to the Prince Group. Properties and entities linked to him span multiple jurisdictions, with UK authorities alone freezing assets worth over $44 million connected to his name.