Major Figure in $15 Billion Bitcoin Scam Network Arrested in Tokyo

Hu Shi is allegedly a senior member of Prince Group, which has been sanctioned by the U.S. government

Tokyo Metropolitan police have arrested alleged crypto crime kingpin Hu Xiaowei, aka Hu Shi, after tracking his movements across various luxury hotels in Osaka.

Hu is believed by police to be a high-ranking member of Prince Group, which CryptoPotato has reported is responsible for high-level pig-butchering scams and investment fraud totaling $15 billion in Bitcoin.

Fall of an empire

Prince Group is one of Asia’s largest organized groups, operating at least 10 scam compounds staffed at the height of its power. The suspected leader of the group, Chen Zhi, was arrested in Cambodia and extradited to China in January.

The U.S. government sanctioned 146 entities linked to the group in October 2025, and the British government has blacklisted several individuals for alleged ties to the Prince Group.

A national of Cyprus and Cambodia, Hu Shi is currently charged with submitting a fraudulent change-of-address form to obtain permanent residency in Japan.

Two Chinese nationals were arrested for submitting paperwork on his behalf. Tokyo police said that the individual named Chen Xiao’er on the U.S. sanctions list is the same person as the Hu Shi they now have in custody, and that a wider investigation into Prince Group and Hu’s involvement is still underway.

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