Prince Group Crypto Scam Figure Arrested in Tokyo, Linked to $15B in Bitcoin Losses

A high-ranking member of Prince Group, one of Asia's largest crypto-facing crime organizations, was arrested in Tokyo. Hu Shi, also known as Xiaowei, is believed to be a senior figure in the group, which has been linked to $15 billion in Bitcoin scams and investment fraud.

The U.S. government sanctioned 146 entities tied to Prince Group in October 2025, and several individuals have been blacklisted by the British government for alleged ties to the organization.

Tokyo police arrested Hu Shi after tracking his movements across various luxury hotels in Osaka, where he had submitted a fraudulent change-of-address form to obtain permanent residency in Japan. Two Chinese nationals were also arrested for submitting paperwork on his behalf.