US EditionUS Government Seizes 127,195 Bitcoin Linked To Chen Zhi Scam – Now Holds Over 316K BTC
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11 Articles
US to add $14b BTC to Bitcoin reserve seized from Chinese scammer may trigger altcoin supercycle
U.S. seizes $14b in Bitcoin amid rumors of a Strategic BTC Reserve, fueling altcoin supercycle speculation. A seismic shake just rattled the crypto world: the U.S. government seized more than $14 billion worth of Bitcoin tied to a sprawling Chinese-Cambodian…
Uncle Sam becomes a Bitcoin "Whale": $15 billion seized. But what happens to the treasure now? - Economic Scenarios
The U.S. Department of Justice (DOJ) has just made what is being called the largest cryptocurrency seizure in history . It involves a haul of nearly $15 billion in Bitcoin, stolen from a vast transnational criminal network based in Cambodia. While this news confirms the effectiveness of federal agencies in tracking even complex transactions on the blockchain, it also opens up a fascinating scenario: the US government is becoming, unwillingly (or…
The US authorities seized $15 billion in bitcoins as part of a "pig butchering" fraud that used workers who were victims of trafficking in South-East Asia to swindle The federal authorities seized $15 billion in bitcoins as part of "pig butchering" scams that used "forced labour camps." In an indictment released on 14 October, the federal prosecutors accused Chen "Vincent" Zhi, 37 years old, of having...
DOJ Seizes $15 Billion in Bitcoin From Massive Crypto Scam Crackdown
The United States Department of Justice seized over 127,000 Bitcoin linked to a pig butchering crypto scam run by Prince Holding Group and its founder, Chen Zhi. During the course of the investigation, it was discovered that the operation made use of forced labor and human trafficking to operate. The United States Department of Justice (DOJ) has announced the seizure of over 127,000 Bitcoin that was connected to a large-scale crypto scam case in…
Bitcoinist
US Government Seizes 127,195 Bitcoin Linked To Chen Zhi Scam – Now Holds Over 316K BTC
The US Department of Justice has seized 127,195 Bitcoin (BTC) linked to Chen Zhi, the alleged operator of a massive “pig butchering” scam based in Cambodia. The value of the seized Bitcoin—around $15 billion—marks the largest forfeiture action in the DOJ’s history, underscoring the scale of global crypto-related financial crimes and the US government’s growing role in tracking and recovering digital assets. The indictment against Chen Zhi was un…
US Seizes $1.5 Billion in Bitcoin from Alleged Forced Labour Pig Butchering Scam
Investigating Cryptocurrency Fraud: The Scale and Impact of the Butchering Scam Highlights: US authorities seized $1.5 billion in Bitcoin linked to a massive scam. The scam involved forced labor and financial exploitation, highlighting the dark side of cryptocurrency. This case reflects growing law enforcement scrutiny on illicit activities involving digital currencies. The recent seizure of $1.5 billion in Bitcoin by US authorities underscores…
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