Tokyo Police Arrest Prince Group Executive in $15 Billion Bitcoin Scam Probe

Tokyo police have made an arrest in connection with a massive $15 billion Bitcoin scam. Hu Xiaowei, a senior executive of the Prince Group, was arrested on false residency charges linked to one of the largest crypto frauds ever uncovered.

The scheme involved forced-labor 'pig butchering' scams that defrauded investors worldwide. The arrest follows international efforts by the US, UK, China, and Japan to dismantle the group.

Over 127,000 Bitcoin were seized, and assets worth millions were frozen as part of this global effort to combat large-scale crypto fraud and protect investors from sophisticated scams.