Zhi Chen (Chen Zhi)

Zhi Chen (Chen Zhi)

Biography

2025: US authorities confiscate cryptocurrency for record $15 billion

On October 14, 2025 United States Department of Justice , it announced one of the largest operations in history to curb financial fraud cryptocurrency in the field. As part of this anti-crime campaign, the American authorities confiscated Cambodia cryptocurrency a record $15 billion from the oligarch.

The main person involved in the investigation is 37-year-old Chen Zhi, the founder and chairman of the Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia. He ran a vast criminal network spanning several continents, according to the FBI. The group was engaged in money laundering, organizing fraudulent investment schemes and theft of assets. The perpetrators are said to have been targeted by millions of people around the world, with the damage estimated to be worth billions of dollars.

To criminal activity, as stated in the message of the US Department of Justice, the attackers attracted workers who became victims of human trafficking: they were kept in premises similar to prison cells, and forced to engage in online fraud on an industrial scale. The essence of the scheme boiled down to finding potential victims through instant messengers or social media applications: people were persuaded to invest in cryptocurrency, promising significant profits. In fact, the money was stolen and subsequently laundered, entering accounts controlled by the attackers.

During the operation, 127,271 bitcoins were confiscated, the cost of which at the time of operational measures was estimated at $15 billion. Zhi is charged with conspiracy to commit wire fraud and conspiracy to commit money laundering. If convicted, he faces a sentence of 40 years in prison.^[1]

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