Hu Shi Arrested in Japan

Japanese authorities have arrested Hu Shi, a Cypriot national and an individual linked to the Prince Group. According to investigators, he allegedly submitted false information in official documents, including an inaccurate change-of-address application filed in April. Authorities believe the false declaration was intended to help him obtain permanent residency in Japan.

Hu Shi is widely regarded as one of the managers associated with the Prince Group, an organization that has been linked to one of the largest “pig butchering” scam operations based in Cambodia.

“Pig butchering” is a form of fraud in which criminals spend weeks or even months building trust with their victims before persuading them to invest money, typically in fake cryptocurrency projects. In recent years, these scams have become a global problem, costing victims billions of dollars.

In October 2025, the U.S. Office of Foreign Assets Control (OFAC) designated the Prince Group as a transnational criminal organization. Sanctions were imposed on 145 individuals and entities connected to the group, including Hu Shi.

However, investigators remain primarily focused on Chen Zhi, who is believed to be the leader of the Prince Group. U.S. authorities have accused him of financial fraud and involvement in large-scale money laundering activities. The Department of Justice also launched proceedings related to the seizure of 127,271 bitcoins worth nearly $15 billion, marking the largest asset forfeiture case in the department’s history.

Chen was previously arrested in Cambodia and later transferred to China after his citizenship was revoked. Hu Shi managed to avoid arrest for some time, but Japanese police eventually tracked him down using surveillance footage and arrested him in Osaka.

Corporate records also show that Hu serves as a representative of a Tokyo-based company whose capital increased sixfold over a three-year period.

The arrest came shortly after FBI Director Kash Patel announced a tougher crackdown on “pig butchering” scams and pledged to pursue those responsible for operating such schemes.