_The leader of a $12 billion crypto fraud in which pig-butchering scams were used to execute was arrested by Cambodian authorities. After a month-long investigation, he was extradited to China._ A large-scale crackdown was conducted by the Cambodian security forces, and Chen Zhi was arrested. Th

The founder of the Cambodian "Prince Group," who was accused of leading a $14 billion cryptocurrency scam and was indicted by the U.S. government, Chen Zhi, was arrested in Cambodia on January 6 and has recently been deported back to China. The Cambodian Ministry of Interior announced that the arrest was the result of months of joint transnational criminal investigations and was carried out at the request of Beijing authorities to extradite Chen Zhi to China, but did not disclose whether he faces charges in China. The official statement mentioned that Chen Zhi's Cambodian nationality was revoked at the end of last year; he had renounced Chinese nationality in 2014 and became a Cambodian citizen. In October last year, the U.S. Department of Justice and the Department of the Treasury filed charges against Chen Zhi for suspected wire fraud, money laundering, and forced labor related to "pig butchering" scams, seizing 127,271 bitcoins (approximately $14.2 billion in USD) obtained from the scam, along with hundreds of millions of dollars in real estate and other assets.

The Cambodian authorities have deported and handed over to China the founder of the Prince Group, who is suspected of global crypto scams and money laundering. The core of the case lies in the U.S. Department of Justice previously seizing 127,000 bitcoins related to his network, worth approximately $15 billion, setting a record for cryptocurrency seizures. With the main culprit falling into the Chinese judicial system, this complex case involving "pig-butchering" scams, cross-border money laundering, and forced labor has entered a critical trial phase. The outcome of the trial and the disposition of the massive assets will have a profound impact on global crypto scam governance and international judicial cooperation. The case also highlights how global regulators are strengthening collaboration to jointly combat transnational criminal networks utilizing cryptocurrencies.

Chen Zhi, the alleged leader of a massive crypto fraud operation known as "pig butchering," was arrested in Cambodia and extradited to China. He faces charges for wire fraud and money laundering, with nearly $12 billion in stolen cryptocurrency currently held by the U.S. government.

Data from Arkham Intelligence shows that cryptocurrency wallets allegedly linked to the US Government have moved over 225 million USD USDT. This amount is believed to be assets seized in "pig butchering" (fattening then slaughtering) scams, an increasingly common form of fraud in the field.

_$7M transferred from TRON to Ethereum linked to pig-butchering scam; $3.1M funneled through Tornado Cash for privacy._ A wallet recently bridged $7 million from multiple wallets on the TRON blockchain to Ethereum. Investigators suspect that the funds originated from a crypto investment scam

A Bitcoin investor lost his retirement savings to a “pig butchering” scam after ignoring repeated warnings from his advisory firm, according to an account shared by a Bitcoin wealth adviser. Terence Michael, an adviser and author who works with The Bitcoin Adviser, said in a post on X that an

San Jose, California – What started as an online romance quickly became a financial nightmare. Margaret Loke, a widow from California, lost nearly $1 million in a sophisticated crypto scam known as a “pig butchering” scheme. Ironically, it was ChatGPT that opened her eyes — telling her plainly:

A widow in San Jose thought she had found a new romantic relationship online, but ended up losing nearly $1 million in a pig-butchering style crypto scam.

A California woman lost nearly $1 million in a cryptocurrency scam and realized she had been deceived after consulting ChatGPT. She invested after establishing contact with a man who claimed to be a wealthy businessman and was ultimately told she needed to pay an additional unfreezing fee when her account was frozen.

In brief A San Jose widow lost nearly $1 million after a scammer posing as a romantic partner pushed her into fake crypto investments. The victim asked ChatGPT about the investment claims, and the AI warned her that the setup matched known scams. Regulators say relationship-based crypto

The Interpol General Assembly held in Marrakech officially passed a resolution categorizing crime syndicates involved in Crypto Assets fraud as a transnational threat. These syndicates have affected victims in over 60 countries through human trafficking, forced labor, and large-scale online scam activities. It has been disclosed that the online marketplace operated by the Huiwang Group in Phnom Penh, Cambodia, handled over $11 billion in Crypto Assets transactions related to the fraud syndicate, and the U.S. Treasury has taken action to sever its ties with the global financial system.

Author: Aki Wu said Blockchain As the transnational criminal empire controlled by Chen Zhi, the actual controller of the Prince Group of Cambodia, is exposed and attacked by the British and American governments, the tangled global business network behind it has also come to light. Shockingly, this notorious gang, infamous for telecom fraud resembling the "pig butchering" scheme, human trafficking, and forced labor, has managed to control 50% of the global top Cuban cigar company Habanos through a complex offshore structure, with China being the largest consumer market for Habanos cigars. This unexpected connection reveals that in the digital age, the illegal economy and legitimate businesses are intertwined through blockchain and offshore financial networks, forming a new "capital spider web." This article attempts to analyze the operational logic of so-called "Spider Web Capitalism 2.0" — an upgrade of traditional offshore capitalism completed under the blockchain technology and the unique environment of Southeast Asia, presenting a new perspective.

Chainalysis warns pig-butchering crypto scams are escalating, posing national security risks and prompting global law enforcement action. The pig-butchering scam has grown beyond simple financial fraud. Experts are now warning that it has become a serious national security risk Chainalysis’ he

The multibillion-dollar scam known as “pig-butchering,” once treated as a consumer-fraud issue, has crossed a new threshold, prompting concerns over national security In a podcast, Chainalysis head of national security intelligence, Andrew Fierman and former prosecutor Erin West, the founder of cr

The Department of Justice, FBI, and U.S. Secret Service have just established the Cryptocurrency Anti-Phishing Task Force to dismantle fraud networks related to Chinese organized crime. According to attorney Jeanine Pirro, Americans lose about 9 billion USD each year due to "pig-butchering" schemes, where scammers impersonate investors.

In November 2025, the U.S. Department of Justice, in conjunction with the FBI, Secret Service, and Department of Treasury, announced the establishment of the "Scam Center Strike Force," specifically targeting Pig-butchering scams originating from Chinese criminal groups involving Crypto Assets. U.S. Attorney for the District of Columbia, Jeanine Pirro, revealed at a press conference that such scams led to losses of up to $135 billion for Americans in 2024, and her office has seized $480 million in stolen Crypto Assets and initiated a refund process, marking a shift in the U.S. approach to cross-border crypto crime from passive defense to active combat.

Deep潮 TechFlow News, November 13, according to CoinDesk, the U.S. Treasury Department and other federal agencies announced the formation of a Scam Center Strike Force to specifically combat Southeast Asian "pig-butchering" scams. The strike force is led by the U.S. District Attorney for Columbia and aims to target transnational criminal groups operating in Myanmar, Cambodia, Laos, and the Philippines. These organizations have stolen hundreds of millions of dollars from Americans, most of which was conducted through cryptocurrency transactions. Meanwhile, the Office of Foreign Assets Control (OFAC) of the Treasury Department has imposed sanctions on the Myanmar Democratic Kloen Charity Army and related armed organizations, companies, and individuals, accusing them of being connected to scam centers supported by Chinese criminal organizations. The sanctioned entities include Trans Asia International Holdi

In brief The DOJ launched a new interagency Scam Center Strike Force to dismantle international "pig butchering" crypto scams tied to Chinese crime networks. U.S. Attorney for D.C. Jeanine Pirro said such schemes stole up to $135 billion from Americans in 2024, with her office already

Cambodian Prince Group issues an official statement, stating outright that Prince Group and its Chairman Chen Zhi have never engaged in illegal activities and vow to thoroughly clear their name. (Background: Timeline — The story of how the US government "hacked" 127,000 Bitcoins from Prince Group Chairman Chen Zhi! The truth may never be known.) (Additional context: Confiscation of 127,000 Bitcoins! The US targets Southeast Asia's "Pig-Butchering" scam empire, Prince Group, and simultaneously sanctions Huibang Group.) Founder and Chairman Chen Zhi of Cambodia's Prince Group (Prince Holding Group) was indicted by the US Department of Justice in October on charges including wire fraud, money laundering, and human trafficking, with a potential maximum sentence of 40 years. The US Treasury Department also designated Prince Group as a "transnational criminal organization," accusing it of operating at least 10 scam camps in Cambodia involving cryptocurrency "pig-butchering" schemes and other illicit activities.

In brief Chinese state cybersecurity watchdog CVERC has alleged that the U.S. unlawfully seized 127,271 BTC from a mining pool hack instead of criminal proceeds. The Bitcoin stash in question was allegedly tied to Chen Zhi, a Cambodian businessman accused of running "pig-butchering" scams. The

The Singapore police announced on October 31 that they had frozen approximately SGD 150 million (about HKD 890 million) in assets belonging to Cambodian Chinese tycoon Chen Zhi, the founder of Prince Group. The U.S. Department of Justice took action against him as early as mid-October, freezing Bitcoin assets worth about USD 15 billion (approximately HKD 116.6 billion), accusing him of being the mastermind behind a massive "Pig-butchering scams" operation in Cambodia. This tycoon, who once made headlines with high-profile investments in Singapore and sought permanent residency, has now become a focal point in international fraud and Money Laundering cases. Chen Zhi was born in China in 1988 and later established the BCH Group in Cambodia, involved in real estate, finance, hotels, construction, and charity, and was once packaged as a representative of the new generation of Asian billionaires. According to reports from Bloomberg and Hong Kong 01, he has been associated with 201

37-year-old Chen Zhi (Vincent), originally from Fujian, China, transformed from an internet café owner to the founder of the Cambodia Prince Holding Group, earning the title of "Duke" and serving as an advisor to two Prime Ministers. However, the U.S. and U.K. justice departments jointly indicted him for conducting Money Laundering through financial entities like Huaiwang, operating at least 10 scam parks in Cambodia, and orchestrating global cons through Pig-butchering scams.

The U.S. Department of Justice has just announced the largest cryptocurrency seizure operation in recent times, prosecuting the Cambodian Prince Group and its founder Chen Zhi for serious crimes including Pig-butchering scams, human trafficking, and forced labor. At the same time, a dormant LuBian Bitcoin Wallet that had been inactive for over three years suddenly awakened, transferring nearly $1.3 billion worth of Bitcoin in a short period, causing widespread attention and speculation in the crypto community. On-chain monitoring agencies Lookonchain and Arkham Intelligence tracked and discovered that first, 9,757 BTC (approximately $1.1 billion) were transferred to multiple new addresses; a few hours later, another 2,129 BTC (approximately $238 million) were transferred out, bringing the total transfer amount to 11,886 BTC. According to investigative reports, this transfer occurred within just 24 hours after the U.S. Department of Justice announced the crackdown on the Prince Holding Group's major case.

The U.S. Department of Justice (DOJ) announced its largest asset seizure operation in history, confiscating nearly $15 billion worth of 127,271 Bitcoins. The indictment accuses Chen Zhi, chairman of the Cambodian Prince Holding Group, of operating a criminal organization that integrates online gambling, "Pig-butchering scams," and forced labor, and laundering money through a large-scale crypto mining operation. However, on-chain analysis shows that nearly all the seized Bitcoins originated from a significant Private Key leak incident involving the Chinese mining company LuBian in 2020, which complicates the nature and ownership of the case.

The U.S. Department of Justice seized 127,271 Bitcoins, involving the chairman of the Cambodian prince group, Chen Zhi, and his criminal empire, related to Money Laundering and fraud. This incident reveals the issue of collusion between politics and business, with connections to the Chinese mining company Luban. This seizure marks the U.S. government as a holder of long positions in Bitcoin, echoing its fiscal policy.

Author: Aki Wu said Blockchain On October 14, 2025, a federal court in Brooklyn, New York unsealed an indictment revealing that the U.S. Department of Justice recently undertook the largest cryptocurrency seizure in history, confiscating approximately 127,000 Bitcoins, valued at over $15 billion. The seized Bitcoin assets originated from the fraudulent funds of the "Prince Group" in Cambodia, masterminded by Chen Zhi, who claims to be the "kingpin of pig butchering". The founder of the Cambodian Prince Group is accused of using forced labor to perpetrate cryptocurrency investment fraud, commonly known as "pig butchering" scams, with illegal daily profits reaching up to tens of millions of dollars. Currently, the massive Bitcoin funds are held by the U.S. government. This article will detail the background of the indictment, the source of the assets, and the law enforcement efforts behind this international cryptocurrency enforcement saga. The Fraud Empire Beneath the Golden Coating Chen Zhi is the "Prince Group Holdings" in Cambodia.

The United States Department of Justice (DOJ) has seized $15 billion worth of BTC held by an individual at the head of a massive “pig butchering” operation based in Cambodia. The seizure is the largest forfeiture action in the DOJ’s history Federal prosecutors unsealed an indictment charging the a

The United States and the United Kingdom launched a major strike against the Prince Group in Cambodia, exposing its "Pig-butchering scams" and money laundering schemes, confiscating $15 billion worth of Bitcoin assets. Shockingly, 9 companies and 3 women from Taiwan were implicated, with registered addresses pointing to the luxurious "Peace Garden" in Taipei. (Background: 127,000 Bitcoins confiscated! The U.S. targets the Southeast Asian "Pig-butchering Empire" Prince Group, simultaneously sanctioning the Huaiwang Group.) (Additional context: The New York Times reveals Cambodia's money laundering empire, the Huaiwang Group, the world's largest black gold money laundering operation.) On October 14, the U.S. and U.K. jointly initiated comprehensive sanctions against the Prince Group and its transnational criminal organization (TCO). The U.S. Department of Justice (DOJ) charged the founder of the Prince Group, Chen Zhi, and confiscated approximately $15 billion worth of Bitcoin.

Chen Zhi, chairman of Cambodia’s Prince Group, has become the central figure in one of the largest crypto fraud scandals on record This week, U.S. authorities sanctioned him over his role in orchestrating vast “pig butchering” operations across Southeast Asia, where forced labor compounds were

Original Title: Feds Seize Record-Breaking $15 Billion in Bitcoin From Alleged Scam Empire Original source: Wired Original translation: Luffy, Foresight News Rhythm Note: On October 14, news emerged from the U.S. District Court for the Eastern District of New York (EDNY) that the U.S. government is seeking to confiscate 127,000 bitcoins seized in an operation involving the Prince Group in Cambodia, amounting to over 14 billion dollars at current prices. If this confiscation is successfully executed, the U.S. government will become the entity holding the largest amount of bitcoins. Here is a detailed analysis of the case: In the past five years, criminals behind the global pig-butchering scams have stolen hundreds of billions of dollars from around the world. Today, law enforcement agencies are targeting this.

The U.S. Department of Justice and the U.S. District Court for the Eastern District of New York have officially charged Chen Zhi, the founder of the Cambodian multinational Prince Group (太子控股集團), for allegedly leading a global Crypto Assets fraud scheme, illegally profiting up to $15 billion. The criminal activities involve serious offenses such as financial fraud, forced labor, human trafficking, and Money Laundering. The U.S. Department of the Treasury has also implemented asset seizures and sanctions related to the case. According to reports from the World Journal, this case involves nine affiliated companies in Taiwan and three Taiwanese individuals. U.S. authorities stated that Chen Zhi, the head of 太子控股集團, allegedly targeted victims through social media and operated labor camps in Cambodia to compel others to commit fraud. The following is a comprehensive translated report. The world's largest "pig slaughtering" scam group, 127,271 bitcoins have been seized. According to the indictment and investigation report, the US government has seized 127,271 Bitcoins, valued at approximately 15 billion USD.

The U.S. Department of Justice (DOJ) has filed a civil forfeiture order seeking ownership of nearly 127,271 Bitcoins, valued at approximately $15 billion. This batch of crypto assets is related to a global fraud scheme known as "Pig-butchering scams." Once the court approves the forfeiture, the total amount of Bitcoin held by the U.S. government will increase to about 325,292 BTC, worth approximately $36 billion. This would not only be the largest forfeiture action in DOJ history, but it would also position the U.S. government’s Bitcoin reserves to potentially surpass those of China, becoming the global leader in government-held Bitcoin, in line with the "strategic Bitcoin reserve" initiative.

The US government is seeking to confiscate 127,000 Bitcoins, involving an amount exceeding $15 billion, targeting the scam network of the Cambodian BCH group. The group is suspected of operating multiple scam parks, where victims are forced to participate in online fraud. This operation sets a record for the US in seizing crypto assets and aims to combat cybercrime and money laundering activities in Southeast Asia.

The U.S. Department of Justice has filed a civil forfeiture lawsuit against 127,271 Bitcoins, involving approximately $15 billion, related to a Pig-butchering scams network in Cambodia. This is the largest cryptocurrency seizure action in the United States, advancing the crypto strategic reserve program. Chen Zhi and others are accused of manipulating cryptocurrency through forced labor and high-tech fraud, resulting in global losses. This case reflects the U.S. commitment to combat digital money crimes globally and may spark intense competition among countries regarding digital asset strategies.

U.S. federal prosecutors, the Treasury Department, and British authorities announced that they seized the largest amount of crypto assets in history during a joint operation against international online fraud, involving up to 127,000 Bitcoins. The operation targeted a multinational conglomerate in Cambodia—Prince Holding Group and its CEO Chen Zhi. Court documents show that the group is a highly sophisticated "Pig-butchering scams" and human trafficking network that laundered billions of dollars through hundreds of shell companies, crypto asset exchanges, and mining operations worldwide, while forcing thousands of victims to engage in fraudulent activities in Cambodian parks.

The US government, in conjunction with the UK, dismantled the cross-border fraud empire led by Chinese citizen Chen Zhi, seizing 127,271 Bitcoins valued at $14.2 billion. These assets seized from Chinese Bitcoin fraud cases will be incorporated into the US strategic Bitcoin reserve according to a Trump executive order, marking a historic integration of digital asset enforcement and national strategic reserves.

The United States and the United Kingdom have launched the largest-ever crackdown on the Cambodian Prince Group's transnational crime organization, prosecuting its chairman Chen Zhi for alleged online fraud and human trafficking, and initiating the largest forfeiture action by the Department of Justice targeting $15 billion in Bitcoin, revealing the global dark side of "Pig-butchering scams." (Background: The U.S. is set to buy Bitcoin! Congress is seeking ways with Michael Saylor and Tom Lee to purchase 1 million BTC within five years.) (Further background: ProCap BTC founder Anthony Pompliano: The U.S. will announce in the future that it has spent to buy Bitcoin.) The U.S. Treasury Department on October 14.

The U.S. Department of the Treasury has announced sweeping sanctions and forfeiture actions targeting transnational criminal organizations tied to large-scale “pig butchering” scams, including an effort to seize 127,271 bitcoin ( BTC) valued at roughly $12 billion linked to Chinese national Chen

According to the Elliptic report, the emotional scam "Pig-butchering scams" has become a billion-dollar industry, with criminals using Blockchain technology for Money Laundering, and the methods are becoming increasingly specialized, posing new challenges for regulation.

The protagonist of the Tinder scam, Shimon Hayut, is back in action! He was arrested in Georgia for defrauding a woman of $52,000. The Israeli man Shimon Hayut, who gained notoriety from the Netflix documentary The Tinder Swindler (Tinder Swindler), has been charged again for using pig-butchering scams to steal money. According to Variety, Hayut was detained by the police at the Brunswick Golden Isles Airport in Georgia on the 14th of this month. The police pointed out that after Hayut matched with the woman through Tinder, he claimed that his credit card was frozen and asked her to pay for hotel and flight expenses in the Cayman Islands, amounting to as much as $10,600. In addition, he is also suspected of using the woman's credit card and mobile contract without permission, spending

Recently, two financial crime cases involving Virtual Money have revealed the complexity and transnational nature of such crimes, as well as the new strategies employed by law enforcement agencies. In Putian, Fujian, the People's Procuratorate of Hanjiang District successfully prosecuted a case involving the establishment of an underground forex network using USDT, with a transaction volume exceeding 13.3 billion yuan. Through measures such as proactive intervention, fund penetration examination, and voiceprint comparison, they successfully broke through the "zero confession" defense line. At the same time, according to Caixin, Song Shijie, the owner of an off-exchange financing operation in Beijing who owes a huge fine, handed over nearly 200 million yuan in assets as settlement to the UK and the US, which were identified as proceeds from his illegal securities trading and Money Laundering from Crypto Assets "Pig-butchering scams" within China. These two cases collectively demonstrate the rampant use of Virtual Money for cross-border financial crimes, as well as the determination and capability of global law enforcement agencies to combat them.

The enforcement case of Song Shijie reveals significant international cooperation in tackling financial fraud, involving asset seizures of over $32 million linked to illegal trading and cryptocurrency scams, notably the pig butchering fraud scheme.

Vào ngày 29 tháng 8 năm 2025, Giám đốc điều hành Binance Richard Teng đã thông báo về việc đóng băng gần 50 triệu USDT liên quan đến gian lận "lợn mổ". Nỗ lực chống gian lận lớn này đã có sự hợp tác với các cơ quan APAC và Chainalysis. Sáng kiến này nhằm bảo vệ các nhà đầu tư và củng cố vai trò của Binance trong việc đảm bảo một thị trường tiền điện tử an toàn hơn.

Binance CEO Richard Teng announced the freezing of nearly $50 million linked to "pig butchering" scams, aided by law enforcement and Chainalysis. This crackdown highlights Binance's cooperation with authorities and advancements in tracking stolen cryptocurrency, aiming for enhanced user protection.

The stablecoin issuer Tether has collaborated with Chainalysis and mainstream CEX institutions to carry out a cross-border operation with law enforcement agencies, successfully freezing 50 million USDT related to the "Pig-butchering scams" in Southeast Asia. The operation tracked 19 involved addresses and ultimately locked 5 major wallets, revealing a transnational criminal network combining investment fraud and human trafficking. This collaboration highlights the ability of the crypto assets industry to work together to combat illegal capital flows and sets a new benchmark for the global fight against crypto scams.

FCA: Nearly 5,000 FCA impersonation scams in the first half of 2025, 480 people lost funds due to fraudsters using "recovered funds from a crypto wallet," "pig butcher

Author: Little Pig Web3 Preface On August 12, 2025, before the US stock market opened, Circle, known as the "first stablecoin stock," announced its first financial report since going public: as of June 30, the circulation of USDC reached $61.3 billion, an increase of 90% compared to the same period last year. Thanks to the significant increase in USDC circulation, revenue and reserve income reached $658 million, a year-on-year growth of 53%. The financial report also shows that Circle had a net loss of $482 million, mainly due to two non-cash expenses related to the IPO, including the cost of employee stock awards attributed to the company going public and the increase in convertible bond valuation caused by the rise in stock price. After the financial report was released, Circle's stock price in pre-market trading surged nearly 14%. Just on July 31, the U.S. "cryptocurrency exchange

1. U.S. Senator releases discussion draft on market structure, focusing on encryption asset regulation. According to Eleanor Terrett, Tim Scott, the Chair of the U.S. Senate Banking Committee, along with Senators Lummis, Hagerty, and Moreno, jointly released the highly anticipated market structure discussion draft. The release of this draft was delayed due to House activities, and it covers issues such as token classification, regulatory fragmentation, banking operations, information disclosure, and illegal finance. It further refines the content based on the CLARITY Act passed by the House and the Lummis-Gillibrand proposal. The senators also publicly sought opinions on 35 topics, including SEC/CFTC regulatory authority, stablecoins, custody, investor protection, DeFi exemptions, and "pig butchering" scams. 2. U.S. Senator Lummis calls for advancing digital asset legislation. U.S. Senator