A crypto wallet tied to the sanctioned Prince Group transferred 15 965 bitcoin (BTC) today, its first activity in three years, according to on-chain data from Arkham Intelligence.
The wallet, identified as part of the Prince Group’s Lubian com entity, was previously linked to alleged illicit fund movements and unlicensed crypto mining operations. The recent transfer, worth around $1.7 billion, was distributed across several addresses, raising speculation about potential asset relocation or attempts to evade existing sanctions. The Prince Group, led by Chen Zhi, has faced international scrutiny for connections to large-scale scam compounds and laundering networks involving digital assets.
Regulators and blockchain analysts are now monitoring further wallet activity to determine whether the funds are being converted, mixed, or transferred to other jurisdictions. Additional on-chain movements tied to Lubian com could trigger new enforcement actions or expanded sanctions from U.S. authorities.
Source: Arkham Intelligence – Lubian com entity
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