US Sanctions, Seizes $15B in Bitcoin from Vast Forced-Labor Crypto Scam
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The US government has dismantled a massive criminal enterprise, seizing a record $15 billion in bitcoin and imposing sanctions on 146 individuals and entities.
The action targets the “Prince Group Transnational Criminal Organization,” allegedly led by Chen Zhi, which operated a crypto scam network in Cambodia using forced labor.
The seizure from this single syndicate has single-handedly swelled the US government’s crypto coffers, pushing its total bitcoin reserves to a staggering $36 billion.
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