[U.S. Department of Justice Seizes $15 Billion in Bitcoin Linked to Cambodian Scam Case]
The U.S. Department of Justice has indicted Chen Zhi, founder of the 'Prince Group,' accusing him of orchestrating a transnational cryptocurrency scam involving forced labor in a 'pig-butchering' fraud scheme. The Department of Justice has confiscated 127,271 bitcoins, valued at approximately $15 billion, marking the largest seizure in the department's history. Chen Zhi faces charges of wire fraud and money laundering, with a maximum sentence of up to 40 years in prison.