US Seeks Forfeiture of $14B in Bitcoin from Pig Butchering Scam
The US Department of Justice (DOJ) is seeking to seize approximately $14 billion in Bitcoin linked to a pig butchering scam run by Chen Zhi.
The US Attorney’s Office for the Eastern District of New York, along with the Department of Justice’s National Security Division, has filed a civil forfeiture complaint to seize around 127,271 Bitcoin.
Chen Zhi, chairman of Cambodia’s Prince Group, is accused of running forced-labor compounds involved in online romance and investment fraud schemes that defrauded victims worldwide.
- The US has intensified efforts to recover assets from international fraud schemes.
- Collaborations with platforms like Binance help trace and seize funds linked to pig butchering scams.
Author's summary: US seeks $14B Bitcoin forfeiture.
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