Record $15B Bitcoin Seizure Signals New Dawn for Crypto Crime Crackdown

A landmark seizure of $15 billion in Bitcoin from a major international crime ring has sent shockwaves through the cryptocurrency market. This unprecedented act by US authorities, targeting a fraudulent scheme operated by Chen Zhi and his Cambodia-based Prince Holding Group, signifies a turning point in the fight against crypto-fueled crimes. The Treasury Department’s Office of Foreign Assets Control (OFAC) seized over 127,271 BTC linked to these illicit activities, far exceeding previous records including the infamous Silk Road case. The operation highlights the vulnerability of the criminal underworld to law enforcement efforts and opens a new chapter in the ongoing battle against cybercrime.