US Seeks $14 Billion in Bitcoin From Cambodian Crypto Scammer in Record Forfeiture
Summary
The United States is seeking to forfeit 127,271 Bitcoin, valued at over $14.2 billion, marking the largest forfeiture action in Department of Justice history. Federal authorities have filed a civil forfeiture complaint against Chen Zhi, founder and chairman of Cambodia-based Prince Holding Group. Chen Zhi is accused of operating large-scale "pig butchering" scams that defrauded billions of dollars from victims in the U.S. and globally.
