US Department of Justice seizes $15 billion worth of Bitcoin in crackdown on Cambodian online fraud scheme

According to ChainCatcher, citing Golden Ten Data, the U.S. Department of Justice has officially charged business tycoon Zhi Chen, who holds dual citizenship in the UK and Cambodia, for allegedly orchestrating a transnational "pig-butchering" cryptocurrency scam. At the same time, the U.S. government has seized approximately 127,271 bitcoins, valued at up to $15 billions (about RMB 106.9 billions), marking the largest confiscation operation in the department's history. Zhi Chen faces multiple charges and could be sentenced to up to 40 years in prison.