US EditionUS, UK Sanction Cambodian Prince Group Over $15B 'Pig-Butchering' Scam
Authorities seized 127,271 bitcoins worth $15 billion from the Prince Group, linked to forced labor camps and global crypto scams that defrauded billions, including $10 billion from U.S. victims in 2024.
- The U.S. Department of Justice has seized approximately 127,271 Bitcoin worth $15 billion, marking the largest forfeiture action in U.S. history, linked to a cryptocurrency scam masterminded by Chen Zhi.
- Chen Zhi, also known as Vincent, faces charges for directing forced-labor schemes that targeted victims worldwide and caused billions in losses.
- Attorney General Pam Bondi stated that the action represents a significant strike against human trafficking and financial fraud associated with the Prince Group's operations.
- Simultaneous sanctions were imposed by the U.S. Treasury and the United Kingdom against the Prince Group and associated entities for their involvement in these criminal activities.
252 Articles
252 Articles
US $15 Billion Crackdown on Cambodian Scams
By: Toh Han ShihVincent Chen ZhiMore assets are expected to be seized in the wake of the largest forfeiture action in the history of the US Department of Justice, involving a “pig butchering” online scam allegedly operated by a Cambodian conglomerate, Prince Holding Group, and its founding chairman, Vincent Chen Zhi. US prosecutors allege Chen and his co-conspirators bribed officials of various countries, including Chinese spies and police offic…
DOJ Seizes $15 Billion in Bitcoin from Cambodian Scammers Who Used Slave Labor to Trick Victims
The DOJ has seized about $15 billion worth of bitcoin from a massive "pig butchering" fraud operation based in Cambodia. The scammers allegedly ran forced-labor camps in Cambodia where slaves were forced to lure individuals into the scam. The post DOJ Seizes $15 Billion in Bitcoin from Cambodian Scammers Who Used Slave Labor to Trick Victims appeared first on Breitbart.
DOJ seizes $15B bitcoin from pig butchering scam kingpin
The Department of Justice seized $15 billion in bitcoin from Chen "Vincent" Zhi, founder of Prince Holding Group, who allegedly ran cryptocurrency-enabled forced labor operations across Cambodia. According to CNBC, prosecutors discovered facilities housing trafficked workers who operated 1,250 phones controlling 76,000 social media accounts — all designed to execute "pig butchering" scams that exploited vulnerable Americans. — Read the rest The …
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