The U.S. Department of Justice (DOJ) has seized 127,271 bitcoins, valued at $15 billion, from Chen Zhi, the founder of Cambodia"s Prince Group. This seizure marks the largest forfeiture in U.S. history. The operation is linked to a scam known as "pig butchering," which allegedly involved forced-labor compounds that trafficked victims to carry out romance-based cryptocurrency frauds, resulting in billions of dollars stolen globally.
Chen Zhi faces charges of wire fraud and conspiracy to commit money laundering. He is currently at large.
This case highlights ongoing concerns regarding cryptocurrency-related scams and the trafficking of individuals for fraudulent activities. The DOJ"s action is part of a broader effort to combat such criminal enterprises.
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