The United States has seized a significant sum of cryptocurrency – $14 billion worth of Bitcoin – as part of a crackdown on a sprawling international scam operation. The US Attorney’s Office for the Eastern District of New York (EDNY) indicted Chinese businessman Chen Zhi, who allegedly used a network called the Prince Group to deceive investors across 30 countries. The indictment details at least 10 fraudulent operations in Cambodia, resulting in billions of dollars in losses globally through illicit methods known as ‘pig-butchering’. The US Department of Justice (DOJ) played a key role in this case, requesting the seizure of various assets including 127,271 Bitcoin and luxury yachts and private jets. The Treasury Department has further sanctioned Prince Group TCO and its related network in Palau, blocking US citizens from interacting with them and freezing their assets.