U.S. Charges Chen Zhi for Massive Crypto Scam, Seizes $15B in Bitcoin

The U.S. Department of Justice has indicted Chen Zhi, founder of the Prince Group, for orchestrating a global cryptocurrency scam that defrauded investors out of an estimated $15 billion. The indictment details how Zhi used forced labor to operate his scheme, targeting victims through fake crypto investment schemes and ultimately seizing Bitcoin worth more than 127,271 coins. This is the largest crypto forfeiture in history, according to the DOJ.