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Originally published by Capital Businessbusiness
October 15, 2025
7h ago
Bitcoin worth $14bn seized in US-UK crackdown on alleged scammers
OCT 15 - The US government has seized over $14bn (£10.5bn) in bitcoin and charged the founder of a Cambodian business empire with allegedly masterminding Kenya breaking news | Kenya news today |..
✨ Key Highlights
The US government has seized over $14 billion in Bitcoin and charged Chen Zhi, a UK and Cambodian national and founder of Prince Holding Group, with masterminding a massive cryptocurrency scam and money laundering operation.
- Approximately 127,271 Bitcoin, valued at $14 billion, were seized by the US government.
- Chen Zhi is accused of leading a "sprawling cyber-fraud empire" that used "phone farms" and forced labor in Cambodian scam compounds.
- The US and UK sanctioned Chen Zhi and his businesses, freezing 19 properties in London, with one valued at nearly £100 million ($133 million).
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