BTC $77,928.97 +1.41%
ETH $2,296.13 +1.84%
BNB $700.45 +0.38%
XRP $1.29 +2.62%
SOL $93.77 +2.02%
TRX $0.3227 +1.38%
DOGE $0.0756 +1.83%
ADA $0.1912 +1.01%
BCH $275.64 -0.63%
LINK $11.16 +0.49%
HYPE $86.08 +2.24%
AAVE $127.85 +0.31%
SUI $0.9012 +3.14%
XLM $0.1641 +0.19%
ZEC $1,235.79 +6.68%
AAPL $330.96 -2.43%
AMZN $250.59 +1.54%
GOOGL $280.49 -0.17%
MSFT $518.66 +2.26%
META $622.04 +2.12%
NVDA $210.21 +3.63%
TSLA $398.20 -1.54%
SNDK $1,141.10 +4.87%
INTC $61.77 +2.42%
SPCX $142.11 +3.61%
MU $870.60 +3.42%
AMD $526.10 +11.81%
BTC $77,928.97 +1.41%
ETH $2,296.13 +1.84%
BNB $700.45 +0.38%
XRP $1.29 +2.62%
SOL $93.77 +2.02%
TRX $0.3227 +1.38%
DOGE $0.0756 +1.83%
ADA $0.1912 +1.01%
BCH $275.64 -0.63%
LINK $11.16 +0.49%
HYPE $86.08 +2.24%
AAVE $127.85 +0.31%
SUI $0.9012 +3.14%
XLM $0.1641 +0.19%
ZEC $1,235.79 +6.68%
AAPL $330.96 -2.43%
AMZN $250.59 +1.54%
GOOGL $280.49 -0.17%
MSFT $518.66 +2.26%
META $622.04 +2.12%
NVDA $210.21 +3.63%
TSLA $398.20 -1.54%
SNDK $1,141.10 +4.87%
INTC $61.77 +2.42%
SPCX $142.11 +3.61%
MU $870.60 +3.42%
AMD $526.10 +11.81%

claims

All
Article
Flash

Prince Group Joint Temporary Liquidators: Chinese victims may be able to file claims, over 90,000 BTC has flowed through related entities

As the "leader" of the Prince Group of Cambodia, Chen Zhi has been apprehended, prompting various judicial jurisdictions to initiate the disposal of assets related to the Prince Group. Local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the corresponding assets surrounding the 30 British Virgin Islands (BVI) entities actually controlled by Chen Zhi. The bankruptcy proceedings in the British Virgin Islands are collective in nature, and the eligibility for creditor claims is not determined by nationality or jurisdiction; potential victims from any jurisdiction can file claims, which means that victims of online fraud and gambling from China can also submit claims at some point in the future.It is reported that the liquidation list includes 30 BVI companies, including Prince Global Group Ltd, most of which are actually controlled by Chen Zhi, while only 28 BVI companies are listed on the U.S. Treasury's sanctions list. Furthermore, "the scope of liquidation is not solely determined by sanctions," as two companies not sanctioned but included in the liquidation list, Amber Hill Ventures Limited ("AHV") and Lateral Bridge Global Limited ("LBG"), have been mentioned in U.S. judicial proceedings and are considered entities within the widely associated network of the Prince Group, accused of having no other practical use besides participating in money laundering. The prosecution claims that of the more than 120,000 bitcoins confiscated in the U.S., over 90,000 flowed through AHV, LBG, and another company registered in the Cayman Islands, Future Technology Investment; among them, the chairman and shareholder of AHV is Fan Yang, and the chairman and shareholder of LBG is Minyi Tang, who are referred to in the U.S. indictment as "Co-conspirator 6" and "Co-conspirator 7," respectively. Regarding the claims of victims of online fraud and gambling, a claims filing and distribution process has not yet been established. If a liquidation process is initiated in the future and there are sufficient funds to support distributions to creditors, the liquidators will establish a claims process, adjudicate claims, and make distributions in accordance with the British Virgin Islands bankruptcy law.

Bithumb administrative lawsuit held for the first time: claims that transfers of less than 1 million Korean won have regulatory gaps

According to South Korean media Digital Asset, the Second Division of the Seoul Administrative Court held its first hearing on October 22 regarding the administrative lawsuit between Bithumb and the Financial Intelligence Unit of Korea (FIU). The FIU determined that between August 28, 2022, and April 3, 2025, Bithumb conducted 45,772 transactions with 18 unreported cryptocurrency operators, and based on this, imposed sanctions, including a partial suspension that restricts new customers from transferring cryptocurrency assets externally for six months.Bithumb stated in court that transactions of 1 million won or more are subject to the "travel rule," and unreported operators have been excluded from the list of optional exchanges, thus the number of violations for this amount range is zero. Transactions below 1 million won were not subject to the travel rule at that time, and the platform had no legal basis to require customers to provide information about the receiving exchange, nor did the regulatory authorities specify a blocking method. Bithumb also mentioned that after integrating the Chainalysis API, only about 2% of the addresses that could not be confirmed were later identified as unreported operators designated by the FIU. If all were blocked, the remaining 98% of normal transactions would be affected, and the platform could also face user claims.Bithumb also believes that the six-month sanction is excessive, effectively equivalent to prohibiting the platform from acquiring new customers. The company also questioned the FIU's criteria for identifying overseas operators and the reasonableness of the basis for the sanctions.
app_icon
ChainCatcher Building the Web3 world with innovations.