US and UK Crack Down on $15 Billion Crypto Scam Using Forced Labor
TL;DR Summary
The U.S. has seized over $14 billion in bitcoin and charged Chen Zhi, founder of Cambodian conglomerate Prince Holding Group, with orchestrating a massive cryptocurrency scam involving forced labor, violence, and money laundering, highlighting the scale of Southeast Asia's scam economy and international efforts to combat it.
- US charges Cambodian executive in massive crypto scam and seizes more than $14 billion in bitcoin AP News
- UK and US take joint action to disrupt major online fraud network GOV.UK
- Feds seize $15B worth of bitcoin in 'pig butchering' scams that used trafficked workers USA Today
- Feds seize $15 billion in crypto from ‘pig butchering’ scheme involving forced labor camps CNN
- Billions in bitcoin seized by DOJ from massive 'pig butchering' crypto scam in Cambodia Fox Business
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