Li Xiong, a senior member and former chairman of the Huione Group, was extradited from Cambodia to China on April 1, 2026, to face charges related to cryptocurrency scams and money laundering, according to CryptoNews. Authorities accuse him of leading a criminal syndicate responsible for processing over $89 billion in illicit crypto assets, involving cross-border gambling, fraud, and “pig butchering” scams targeting victims globally, as reported by Cointelegraph and BeInCrypto.
The cooperation between Cambodian and Chinese law enforcement marks a significant step in China's intensified crackdown on cross-border cryptocurrency crime networks. Cambodian officials confirmed the extradition as part of their commitment to combating financial crimes and cyber scam operations, according to Daily Maverick and DW News. Li's arrest follows previous detentions in the case, including Chen Zhi, Huione’s founder, who was linked to major bitcoin seizures by U.S. authorities.
The Huione Group has faced multiple international sanctions and comprehensive investigations focusing on its role in crypto laundering and fraud, with regulatory agencies in the U.S. and China scrutinizing billions of dollars in transactions, as detailed by Decrypt. Chinese authorities have yet to disclose detailed information on Li Xiong’s legal proceedings but emphasize the ongoing goal to dismantle complex crypto crime syndicates.
This extradition advances China’s broader regulatory enforcement strategy against illicit activities in the cryptocurrency sector, which has increasingly involved transnational collaboration. Legal observers will be closely monitoring forthcoming trial developments and the impact on global efforts to regulate and police digital asset crimes.
Li Xiong
Huione Group
Cambodia
Chen Zhi
Chinese authorities
Prince Group
China
