U.S. Seizes $15 Billion in Crypto in Cambodian Forced-Labor Scam
TL;DR Summary
Chen Zhi, chairman of Prince Group, has been indicted for operating forced-labor scam compounds in Cambodia involved in cryptocurrency fraud schemes, including 'pig butchering' scams that stole billions globally. The U.S. government has also seized approximately 127,271 bitcoin, worth around $15 billion, in connection with these schemes, marking the largest forfeiture in Department of Justice history. The case highlights extensive transnational criminal activity involving human trafficking, cyber fraud, and money laundering.
- Chairman of Prince Group Indicted for Operating Cambodian Forced-Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes Department of Justice (.gov)
- Feds seize $15 billion in crypto from ‘pig butchering’ scheme involving forced labor camps CNN
- Feds seize $15 billion from alleged forced labor scam built on “human suffering” Ars Technica
- DOJ seizes $15 billion in bitcoin from massive 'pig butchering' scam based in Cambodia CNBC
- U.S. Sanctions Cambodian Conglomerate, Citing Role in ‘Pig-Butchering’ Scams The Wall Street Journal
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