$14 Billion Bitcoin Seizure: U.S. and U.K. Uncover One of the Largest Global Crypto Fraud Networks
Global Authorities Strike at the Heart of a Massive Cryptocurrency Crime Empire
In an unprecedented joint operation, the United States Department of Justice (DOJ) and the United Kingdom’s National Crime Agency have seized over $14 billion in Bitcoin, dismantling what prosecutors describe as one of the largest financial frauds and cryptocurrency takedowns in history.
The alleged ringleader, Chen Zhi, a UK–Cambodian businessman and founder of the Prince Group, stands accused of orchestrating an international web of deceit, trafficking, and cyber-fraud that exploited victims across continents.
The $14 Billion Bitcoin Seizure Largest in History
Authorities confirmed that approximately 127,271 Bitcoin valued at more than $14 billion USD has been seized by U.S. federal agents. This staggering confiscation marks the largest-ever Bitcoin seizure by the U.S. government, reinforcing its growing ability to trace and intercept digital assets tied to illicit activities.
According to official statements, the seized cryptocurrency was directly connected to operations run by the Prince Group, an alleged conglomerate of criminal businesses masquerading as real estate, finance, and consumer service enterprises across Asia.
Chen Zhi and the Prince Group: The Alleged Cyber-Fraud Empire
A Corporate Facade for Transnational Crime
Chen Zhi’s Prince Group, registered in Cambodia, publicly claimed involvement in property development, hospitality, and consumer services. However, prosecutors allege that beneath the corporate façade existed a highly organized transnational criminal syndicate engaged in massive online investment scams, human trafficking, and money laundering.
The U.S. Department of Justice described the group as a “sprawling cyber-fraud empire built on human suffering.”
Forced Laboure Camps and Scam Compounds in Cambodia
Digital Slavery Behind the Screens
Court filings reveal that Chen and his accomplices allegedly operated at least ten scam compounds throughout Cambodia. These facilities were reportedly secured with armed guards, designed to detain trafficked workers and force them to conduct online scams targeting global victims.
According to the DOJ, these workers were often foreign nationals, lured with promises of legitimate employment, only to find themselves trapped in prison-like conditions, coerced into defrauding thousands worldwide.