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U.S. seizes $14B+ in bitcoin, charges Cambodian executive
Record crypto seizure and fraud indictment targets Cambodia-linked operation.
U.S. authorities announced the seizure of over $14 billion in bitcoin tied to a massive crypto fraud operation linked to Cambodian firm Prince Holding. The DOJ indicted chairman Chen Zhi for alleged wire fraud, money laundering, and operating investment scam networks. Sanctions were simultaneously imposed on 146 entities. The scheme involved coercion and use of trafficked individuals across multiple countries. The move marks one of the largest crypto asset forfeitures to date.