U.S. Seizes $14 Billion Bitcoin, UK Freezes Assets Over Forced Labor Fraud

The U.S. seized approximately $14 billion in Bitcoin during a significant crackdown on forced labor-fueled cryptocurrency fraud. Authorities arrested Chen Zhi, a dual UK-Cambodian national suspected of orchestrating one of Asia’s largest transnational criminal operations. The Justice Department labeled this the largest Bitcoin seizure in history, targeting a network estimated to have defrauded thousands worldwide. The charges, filed Tuesday in New York, allege that Zhi ran forced labor camps throughout Cambodia where workers were confined and pressured into conducting scams. Meanwhile, U.S. and UK governments seized assets worth nearly £100 million including an office building in central London, freezing the criminal proceeds of the operation.