WLFI partner AB Network linked to sanctioned Cambodian scam-related companies

ME News, April 9 (UTC+8): AB network, which has partnered with World Liberty Financial, a crypto project backed by Trump, is involved in a “blockchain-themed resort” project planned in Timor-Leste. The project involves three individuals who were sanctioned by the U.S. Department of the Treasury after being indicted, and they are linked to Cambodia-based Prince Group, which has been accused of operating a global fraud network. Company records show that the development company’s largest shareholder, Yang Jian, was sanctioned last October for allegedly collaborating with Prince Group CEO Chen Zhi. The three sanctioned individuals have been removed from the project after the sanctions were announced. At present, there is no evidence that illegal funds flowed into the development project, nor that AB network has a direct connection to Prince Group.

In last November, AB network announced that it had established a partnership with World Liberty Financial, and was authorized to use the stablecoin USD1 on its blockchain. World Liberty Financial said it conducted due diligence on AB and stated it was not informed about the resort project or any sanctioned individuals related to the Timor-Leste project. Its lawyer said claims that there is a link to the sanctioned individuals are “groundless and untrue.”

According to the FBI’s 2025 Internet Crime Report, Americans lost nearly $21 billion to online scams last year, including more than $11 billion in cryptocurrency-related fraud losses. The U.S. government seized $15 billion worth of Bitcoin from Chen Zhi last year. Cambodian authorities arrested Chen Zhi in January of this year and extradited him to China. At present, AB network’s maximum total supply of USD1 on the World Liberty Financial blockchain is about $3.6 million, held by only about 3,000 holders. (Source: ODAILY)