US Seizes $15 Billion in Bitcoin from Cambodian ‘Pig-Butchering’ Scam

U.S. law enforcement has seized over $15 billion worth of Bitcoin as part of a major crackdown on a sprawling international fraud operation dubbed the ‘pig-butchering’ scam originating in Cambodia. The massive seizure, amounting to 127,271 Bitcoin, was executed in conjunction with an indictment of Chen Zhi, founder and chairman of the Prince Holding Group, accused of orchestrating the scheme. The alleged scam employed forced labor within Cambodian compounds to target global investors, coercing individuals into running online investment scams that exploited victims in the U.S., among others.