(Phnom Penh): On 11 November 2025, Prince Group issued an urgent statement firmly denying all allegations claiming that Oknha Chen Zhi was involved in any illegal activities. The Group stated that such accusations are baseless and appear to be an intentional pretext to seize assets worth billions of dollars.

The statement added that the unfounded allegations pose serious risks to thousands of innocent employees, business partners, and related communities working with the Group both in Cambodia and abroad.

The denial comes shortly after a report published by China’s Global Times on 9 November 2025, citing the China National Computer Virus Emergency Response Centre (CVERC), which issued a technical analysis of the case in which the US government has seized vast amount of bitcoin and charged Oknha Chen Zhi of allegedly masterminding a massive cryptocurrency scam. The centre called it a typical case of "thieves falling out" orchestrated by a state-level hacking organization.

According to Global Times, the CVERC report reconstructs the full timeline of the Bitcoin theft, analyses each phase of the attack, and evaluates Bitcoin's security mechanism. It said that on 29 December 2020, a major hacking incident occurred at the LuBian mining pool, resulting in the theft of about 127,272 Bitcoins (then worth about USD 3.5 billion, now valued near USD 15 billion). The funds belonged to Oknha Chen Zhi.

Following the hacking incident, Oknha Chen Zhi and his Prince Group repeatedly posted messages on the blockchain in early 2021 and July 2022, pleading for the return of the stolen Bitcoins and offering a ransom. The hackers never replied.

Unusually, the entire stash then sat untouched in a wallet under the control of the attackers for almost four years. This deviates from the typical pattern of quick liquidation of gains, instead resembling a precision operation orchestrated by a "state-level hacking organization." Only in June 2024 were the stolen coins moved to a new wallet, where they have remained untouched.

In June 2024, the Bitcoins were activated and transferred to the final wallet addresses, which were tagged by the US' famous blockchain tracking tool ARKHAM as owned by the US government.

The situation escalated on 14 October 2025, the US Department of Justice filed criminal charges against Oknha Chen Zhi and claimed to have seized 127,000 Bitcoins linked to him and the Prince Group. Evidence indicates that the Bitcoins seized by the US government matched those stolen from the LuBian mining pool by hackers as early as 2020.

In other words, the US government likely stole Oknha Chen Zhi's 127,000 Bitcoins as early as 2020 using hacking techniques, making this a typical case of "thieves falling out" orchestrated by a state-level hacking organization.

Preliminary findings contradicted the US Department of Justice's claim in the indictment that all of the funds originated from illegal proceeds, the CVERC report said.

Prince Group reaffirmed its commitment to integrity, responsible investment, and sustainable economic growth in the region. For more than a decade, the company has operated with transparency and full compliance with all applicable legal standards, which are principles it believes will be clearly demonstrated once all evidence is presented.
=FRESH NEWS