According to Caixin, Odaily Planet Daily reports that the Prince Group of Cambodia is suspected of operating a large transnational fraud syndicate. Following the announcement in mid-October that the United States and the United Kingdom had indicted Chen Zhi, the head of the Prince Group, and seized approximately US$15 billion worth of Bitcoin, Singapore police announced today that they have launched an enforcement operation against Chen Zhi and his associates, the head of the Cambodian telecom fraud syndicate Prince Group, and seized assets worth more than S$150 million (approximately RMB 800 million).

During the enforcement operation, Singapore police issued restraining orders against a total of six properties and various financial assets under the names of Chen Zhi and his accomplices, including bank accounts, securities accounts, and cash. Singapore police stated that Chen Zhi and his accomplices are currently not in Singapore, and the investigation is ongoing.