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U.S. Seizes $15 Billion in Cryptocurrency from Forced-Labor Scam Compounds

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1 unique sources, 1 articles

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The U.S. government has seized $15 billion worth of cryptocurrency assets from the Prince Group, a global operator of forced-labor scam compounds in Cambodia, Myanmar, and Laos. The group conducted romance baiting (pig butchering) schemes to defraud victims, stealing billions of dollars. The Department of Justice (DoJ) unsealed an indictment against the Prince Group and its CEO, Chen Zhi. The seized funds were stored in unhosted cryptocurrency wallets, and the group operated out of casinos and luxury hotels. The DoJ also sanctioned several proxy organizations linked to the Prince Group.

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  1. 16.10.2025 12:14 1 articles · 15h ago

    U.S. Seizes $15 Billion in Cryptocurrency from Forced-Labor Scam Compounds

    The U.S. government has seized $15 billion worth of cryptocurrency assets from the Prince Group, a global operator of forced-labor scam compounds in Cambodia, Myanmar, and Laos. The group conducted romance baiting (pig butchering) schemes to defraud victims, stealing billions of dollars. The Department of Justice (DoJ) unsealed an indictment against the Prince Group and its CEO, Chen Zhi. The seized funds were stored in unhosted cryptocurrency wallets, and the group operated out of casinos and luxury hotels. The DoJ also sanctioned several proxy organizations linked to the Prince Group.

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