{"id":90815,"date":"2025-10-15T00:19:22","date_gmt":"2025-10-15T04:19:22","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=90815"},"modified":"2025-10-15T01:13:10","modified_gmt":"2025-10-15T05:13:10","slug":"u-s-government-seizes-15-billion-in-bitcoin-linked-to-global-pig-butchering-scam","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2025\/u-s-government-seizes-15-billion-in-bitcoin-linked-to-global-pig-butchering-scam.html","title":{"rendered":"U.S. Government Seizes $15 Billion in Bitcoin Linked to \u201cPig Butchering\u201d Scam"},"content":{"rendered":"\n<p>(HedgeCo.Net) The U.S. Department of Justice has taken dramatic action in one of the biggest crypto fraud crackdowns to date, seizing over <strong>$15 billion<\/strong> worth of Bitcoin tied to a sweeping cyber?fraud scheme. The case targets Chen Zhi, chairman of Cambodia\u2019s Prince Holding Group, who is accused of orchestrating a massive \u201cpig butchering\u201d scam \u2014 a method of defrauding victims using romantic investment lures \u2014 along with forced labor operations. <a rel=\"noreferrer noopener\" href=\"https:\/\/apnews.com\/article\/dfd6833904cf539d680e381ad8d0eb6c?utm_source=chatgpt.com\" target=\"_blank\">The Washington Post+3AP News+3Business Insider+3<\/a><\/p>\n\n\n\n<p>According to investigators, foreigners were lured through fake online relationships or investment opportunities and convinced to send crypto assets, which were then laundered through Prince Holding\u2019s operations. Workers in Cambodia were allegedly held inforced facilities and made to run scam call centres under duress. <a href=\"https:\/\/apnews.com\/article\/dfd6833904cf539d680e381ad8d0eb6c?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener\">AP News+2Business Insider+2<\/a><\/p>\n\n\n\n<p>The scale of the seizure \u2014 over 127,271 BTC \u2014 makes this the <strong>largest crypto forfeiture<\/strong> in DOJ history. The assets were stored in unhosted wallets, where Chen and co?conspirators had direct control of the keys. <a href=\"https:\/\/www.businessinsider.com\/bitcoin-cyber-crime-doj-15-billion-pig-butchering-2025-10?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener\">Business Insider+1<\/a><\/p>\n\n\n\n<p>Legal authorities from both the U.S. and U.K. have imposed sanctions and travel bans on several individuals tied to the operation. Moreover, luxury assets in the U.K., including real estate, have been seized. <a href=\"https:\/\/www.theguardian.com\/uk-news\/2025\/oct\/14\/uk-us-sanctions-leaders-cambodia-scam-centres?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener\">The Guardian+1<\/a><\/p>\n\n\n\n<p>This enforcement action underscores rising global concern over crypto\u2019s abuse for fraud, money laundering, and human rights violations. Experts say it will raise the bar for detecting and prosecuting \u201cpig butchering\u201d schemes, which often exploit decentralized, less?regulated channels in crypto. <a href=\"https:\/\/apnews.com\/article\/dfd6833904cf539d680e381ad8d0eb6c?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener\">AP News+1<\/a><\/p>\n\n\n\n<p><strong>Implications<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>For investors, the case may increase scrutiny and regulatory pressure on platforms interacting with unhosted wallets.<\/li><li>For governments, this may serve as a template for international cooperation in crypto law enforcement.<\/li><li>For the crypto ecosystem broadly, there may be a ripple effect: more KYC\/AML enforcement, intensified tracking of large crypto flows, and possibly new legislation aimed at tightening oversight.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The U.S. Department of Justice has taken dramatic action in one of the biggest crypto fraud crackdowns to date, seizing over $15 billion worth of Bitcoin tied to a sweeping cyber?fraud scheme. The case targets Chen Zhi, chairman of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,16,3],"tags":[16285],"class_list":["post-90815","post","type-post","status-publish","format-standard","hentry","category-activist-funds","category-hedgeco-networks-press-releases","category-hedgeco-news","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/90815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=90815"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/90815\/revisions"}],"predecessor-version":[{"id":90817,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/90815\/revisions\/90817"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=90815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=90815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=90815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}