Prince Holding Group
Prince Holding Group is a Cambodia-based conglomerate that U.S. authorities have alleged functioned as a transnational criminal organization under the leadership of founder and chairman Chen Zhi, also known as Vincent. According to the provided reporting, prosecutors allege the group has overseen since at least 2015 the operation of at least 10 scam compounds in Cambodia that used trafficked laborers and forced labor to conduct large-scale cryptocurrency investment fraud, including pig butchering and romance-style scams. Reported tradecraft includes initial contact over social media and messaging platforms, including wrong-number scripts, grooming victims into false relationships, and then inducing them to send funds or invest in fraudulent cryptocurrency schemes. The content also states that coercion, captivity, isolation, beatings, and other violence were used against workers in the compounds, including at sites associated with the Jinbei Casino Hotel and Golden Fortune. The group is further alleged to have laundered proceeds through Prince Holding Group businesses and related entities, including hotels, casinos, online gambling, financial services, cryptocurrency mining, shell companies, and offshore hubs in Singapore, Hong Kong, the British Virgin Islands, and the Cayman Islands, using techniques described as spraying and funneling. The U.S. Treasury designated Prince Holding Group as a transnational criminal organization, and U.S. and UK authorities imposed sanctions on the group, Chen Zhi, and numerous related entities and executives. Known alias in the provided content: prince_holding_group.
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Targeting
Who, where, and (when attributed) which flag flies behind the operation. Pulled from open-source reporting and Mallory's analyst review.
Who they target
Sectors the actor has been observed targeting.
- crypto
- finance
Recent activity
3 sources tracked across advisories, community write-ups, and news. New activity surfaces here as Mallory finds it.
Alleged transnational organized-crime operation running industrial-scale "pig butchering"/romance-investment fraud from scam compounds in Cambodia using trafficked/forced labor, laundering proceeds via offshore shell companies and cryptocurrency obfuscation, and collaborating with a U.S.-based fraud network to target U.S. victims.
Alleged transnational organized-crime operation running industrial-scale "pig butchering"/romance-investment fraud from scam compounds in Cambodia using trafficked/forced labor, laundering proceeds via offshore shell companies and cryptocurrency obfuscation, and collaborating with a U.S.-based fraud network to target U.S. victims.
Prince Holding Group is known for orchestrating large-scale cryptocurrency investment scams ('pig butchering'), using forced labor in compounds in Cambodia to target victims globally, laundering illicit profits through real estate, gambling, and crypto mining businesses, and employing violence and coercion against workers.
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Every observed MITRE ATT&CK technique, grouped by tactic.
Families this actor is known to deploy, with IOCs and behavior.
CVEs this actor has used in known campaigns.
YARA, Sigma, Snort, and vendor rules, auto-deployed to your SIEM.
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