Japan arrests senior Prince Group exec over crypto fraud

Japanese authorities have arrested a senior figure linked to the Cambodia-based Prince Group, a network accused by U.S. officials of orchestrating a massive international cryptocurrency fraud scheme. Hu Xiaowei, a 44-year-old Cypriot national also known as Hu Shi, was taken into custody by the Tokyo Metropolitan Police Department on suspicion of submitting false residency registration documents in Tokyo’s Chuo Ward in April 2026.

The arrest, which occurred on June 14, marks a significant step in the expanding global crackdown on the alleged fraud network. While the immediate charge is an administrative violation related to residency, investigators are using it to detain Hu while probing his alleged role within the Prince Group. Police sources describe him as a senior executive of the organization.

The Prince Group has been identified by U.S. authorities as a major operator of online investment scams, including "pig butchering" schemes. These frauds involve building relationships with victims before directing them to fake cryptocurrency investment platforms designed to steal funds. In October 2025, the U.S. Treasury Department and Department of Justice announced sanctions against...