Federal authorities have made a historic financial seizure of 127,271 Bitcoin, valued at around $15 billion, from Chen Zhi, the alleged leader of a major cybercrime network based in Cambodia. Attorney General Pamela Bondi emphasized that this action signifies one of the largest efforts against global human trafficking and cyber-enabled fraud. Chen, who renounced his Chinese citizenship, allegedly built a criminal enterprise under the Prince Group, which involved managing scam operations and forced labor camps.
Chen, who is currently at large, has been indicted in the United States and faces up to 40 years in prison. His operations extend across more than 30 countries, including orchestrating scams that targeted over 250 victims in New York alone. U.S. and U.K. authorities have imposed coordinated sanctions on 146 individuals and organizations linked to the Prince Group, marking a comprehensive crackdown on these cybercrime networks. Officials noted that these scams cost American citizens billions, with estimates suggesting over $10 billion lost to Southeast Asian scams last year.
👉 Pročitaj original: CyberScoop
