Li Xiong, a senior figure at Huione Group, an alleged money-laundering network for crime organizations, was extradited to China from Cambodia.
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According to media reports, he is suspected of several offenses. These range from operating casinos to fraud, illegal business activities, and the disguise of criminal proceeds.
Authorities arrested Chen Zhi, chairman of Prince Group, the company behind Huione Group, roughly three months ago. Reports from October indicated that the US Department of Justice confiscated over 127,000 Bitcoin (BTC) linked to Zhi.
Huione Group has faced sanctions from multiple governments, including the United States, the United Kingdom, and South Korea. In October, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) ordered US financial institutions not to open or maintain a correspondent account for, or on behalf of, Huione Group.
According to FinCEN’s findings, the group received at least $4 billion in illicit funds between August 2021 and January 2025.
Meanwhile, Chainalysis data shows the broader ecosystem remains resilient. Chinese-language money laundering networks (CMLNs) processed $16.1 billion in 2025. These networks have processed around 20% of illicit crypto funds over the past five years
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The post China Nabs Another Huione Group Core Member in Cambodia Extradition appeared first on BeInCrypto.
Source: https://beincrypto.com/huione-li-xiong-extradited-cambodia-china/
