Svmuu According to reports, AB network, which has partnered with the Trump-backed crypto project World Liberty Financial, is involved in a planned "blockchain-themed resort" project in East Timor that implicates three individuals later sanctioned by the U.S. Treasury Department. These individuals are linked to Cambodia's Prince Group, which is accused of operating a global scam network. Company records show that Yang Jian, the majority shareholder of the development company, was sanctioned last October for allegedly collaborating with Prince Group CEO Chen Zhi. The three sanctioned individuals have been removed from the project following the sanctions announcement. Currently, there is no evidence indicating that illicit funds have flowed into this development project or that AB network has direct ties with Prince Group.
AB network announced a partnership with World Liberty Financial last November, obtaining authorization to use the stablecoin USD1 on its blockchain. World Liberty Financial stated that it has conducted due diligence on AB and claimed it was not informed about the resort project or any sanctioned individuals related to the East Timor project. Their lawyer described the alleged connections to sanctioned figures as "baseless and untrue."
According to the FBI's 2025 Internet Crime Report, the U.S. suffered nearly $21 billion in losses from online scams last year, with cryptocurrency-related fraud losses exceeding $11 billion. The U.S. government seized $15 billion worth of Bitcoin from Chen Zhi last year. Cambodian authorities arrested Chen Zhi in January this year and extradited him to China. Currently, the maximum total supply of USD1 on World Liberty Financial's blockchain by AB network is approximately $3.6 million, held by only about 3,000 people.