In what authorities are calling the largest financial recovery in U.S. history, the FBI and U.S. Department of Justice (DOJ) have seized 127,271 Bitcoins worth approximately $15 billion. This is the largest seizure from what authorities say is the world’s largest Crypto Scam operation.
The sprawling network, allegedly led by Cambodian business magnate Chen Zhi, 37, and his conglomerate, The Prince Group, has been accused of orchestrating a vast web of cyber-fraud, forced labor, and human trafficking across Asia.
According to the DOJ’s announcement, the massive Bitcoin seizure is part of a broader investigation into international cryptocurrency crimes. “This marks a turning point in global cybercrime enforcement,” said one DOJ official. “It proves that the era of crypto anonymity is over.”
Chen Zhi: The Rise of a Prince
Chen Zhi founded The Prince Group in 2015, transforming it into one of Cambodia’s most powerful conglomerates. The company’s website describes him as “a respected entrepreneur and philanthropist” whose vision “transformed Cambodia’s economy.” However, U.S. and U.K. authorities now claim that this empire was built on deception, exploitation, and a Crypto Scam operation that earned $30 million a day at its peak.
