Why Cambodia Handed Over a Man Accused of Stealing Billions in Crypto Scam

Cambodia extradited Chen Zhi, a naturalized Cambodian citizen accused of running large-scale crypto scams, to China on Wednesday after years of shielding him. Chen, who held the title of lord and advised Cambodia's prime minister, had his company sanctioned by the U.S. and Britain in October. The extradition signals Cambodia is yielding to pressure from China, its main regional ally, to address the pervasive cyberscam industry operating within its borders. Experts believe this action is unlikely to trigger a widespread crackdown, as the scam industry has become a significant part of Cambodia's economy. The move may, however, push scam operations to relocate elsewhere in Southeast Asia, where an estimated 100,000 people are forcibly involved in online scams in Cambodia alone.

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