Li Xiong Extradited to China: $89 Billion Crypto Laundering Network Dismantled

- Li Xiong, alleged leader of the Huione Group, extradited to China. - Huione allegedly laundered $89 billion and facilitated crypto scams worldwide. Cambodia has extradited Li Xiong, an alleged key member of the Huione Group—a massive $89 billion crypto-laundering outfit—to China to face fraud and money laundering charges. On April 2, 2026, multiple outlets reported the extradition, which followed a coordinated investigation between Chinese and Cambodian authorities. The Huione Group, which reportedly operated as one of the largest crypto-laundering syndicates globally, handled over $89 billion in illicit assets and facilitated scams, such as "pig butchering" schemes, across Southeast Asia. This development aligns with China’s broader crackdown on transnational cybercrime, which includes intensified efforts to dismantle fraud and crypto-laundering networks. Chinese state media identified Li Xiong as a core member of Chen Zhi’s criminal syndicate, allegedly operating within the Huione Group under the Prince Group’s umbrella. Authorities extradited Chen Zhi, the head of the Prince Group, to China earlier this year in January. In October 2025, U.S. authorities confiscated over 127,000 Bitcoin as part of their investigation into Chen Zhi's network, with the assets valued at more than $15 billion at the time. Furthermore, the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) designated the Huione Group as a "primary money-laundering concern," an action that cut off the group's access to the U.S. financial system. Ahead of the extradition, Cambodian authorities revoked Li Xiong’s citizenship. Following his return to China, Chinese authorities have urged other fugitive members of the Huione Group to surrender, promising the possibility of lenient treatment for those who cooperate. As of April 2, 07:08 UTC, Bitcoin (BTC) is trading at $66,666.38, with a 3.58% decrease in 24-hour trading volume, according to CoinMarketCap.