US Sanctions More Prince Group-Linked Companies as Crypto Scam Network Crackdown Widens

Brief

By Dextape Desk · November 9, 2026

The US Treasury announced sanctions on November 5 against four individuals and 41 entities that it says supported the Prince Group, a criminal network it describes as operating across borders. A separate individual, accused of running another scam network, was also designated. According to the agency, the newly listed people and companies helped keep Prince Group-connected businesses running after earlier sanctions imposed in 2025 and 2026. Some allegedly ran offshore firms, hid who really owned businesses, or served executives who were already sanctioned. Treasury also named a Malaysian man it says ran scam operators based in Madagascar. The article stresses that these are official allegations, not a finding that every customer or employee of a named firm took part in fraud. Law enforcement in the British Virgin Islands and the UK was credited with assistance.

Why it matters: Because the sanctions target corporate ownership and offshore structures, exchanges and crypto businesses may need beneficial ownership checks alongside blockchain tracing.

Summary by Dextape, based on reporting by NewsBTC. Machine-written from NewsBTC’s report and checked against it · How Dextape writes