Oct 16, 2025 #CyberCrime #CryptoNews #MoneyLaundering
In a historic joint crackdown, US and UK authorities have seized over $14 billion in Bitcoin linked to an alleged global cryptocurrency scam run by Cambodia’s Prince Group. The group’s founder, Chen Zhi, a UK and Cambodian national, has been charged in New York with wire fraud and money laundering, accused of orchestrating one of the world’s largest cyber-fraud operations.
Investigators say Chen’s empire operated forced labour compounds in Cambodia, where trafficked workers were made to run online scams targeting thousands worldwide. Authorities also froze 19 UK properties, including a £100m London office, tied to Chen’s network. The US Department of Justice called it the biggest Bitcoin seizure in history, revealing details of “phone farms” and social media manipulation at an industrial scale.
Both nations have sanctioned Chen and his companies, labelling the Prince Group a criminal enterprise built on human suffering. The operation marks a landmark in the global war on crypto-enabled fraud.
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