A report published on April 29 alleges that the Trump family-linked crypto venture, World Liberty Financial, partnered with a project connected to The Prince Group, a syndicate accused of stealing over a billion dollars through at least 10 fraudulent “pig butchering” operations.
The new allegation connects WLFI to a vast criminal enterprise just as US authorities are escalating a global crackdown on such scams. “Global crime now faces global justice,” U.S. Attorney Adam Gordon said in a statement regarding a recent international sweep that resulted in 276 arrests. “These scammers thought they were safe half a world away. But their world has changed.”
The Prince Group allegedly operated numerous scam compounds, using the classic “pig-butchering” playbook to defraud victims. According to the FBI, criminals develop fake friendships or romantic relationships over weeks or months, eventually persuading their targets to deposit funds into bogus cryptocurrency investment platforms that the scammers secretly control before draining the accounts.
This development adds a new layer of crisis for WLFI, which is already embroiled in a high-profile legal battle with crypto billionaire Justin Sun. The combination of a public feud with its largest backer and alleged ties to a major international fraud ring could invite intense scrutiny from regulators and jeopardize the project, which lists members of the Trump family as co-founders.
A Project Already Under Fire
The allegations land while WLFI is defending itself against a $45 million lawsuit from Justin Sun, the founder of TRON. Sun, once a vocal supporter who invested $75 million into the project, now accuses WLFI of illegally freezing his tokens and stripping his governance rights.
WLFI has called Sun’s claims “entirely meritless.” The venture, in which a Trump family-controlled entity owns a 38% stake and receives up to 75% of token-sale revenue, had previously struggled to gain traction before Sun’s high-profile investment in late 2024 helped it raise a reported $550 million.
Global Crackdown on ‘Pig Butchering’
The accusations against The Prince Group mirror the activity targeted by a recent global law enforcement operation. Coordinated by the FBI with police in Dubai, China, and Thailand, the sweep dismantled at least nine overseas scam centers.
The crackdown aligns with a March 6 executive order signed by President Donald Trump, which directed the administration to crush foreign-backed criminal networks that exploit American citizens. An FBI initiative, “Operation Level Up,” has already notified nearly 9,000 victims of similar schemes, preventing an estimated $562 million in losses, according to the U.S. Attorney’s Office.
This article is for informational purposes only and does not constitute investment advice.
