The US Government Seeks to Seize Over 127,000 BTC Linked to International "Ponzi Scheme" Scam

BlockBeats News, October 14th, the Eastern District of New York (EDNY) announced that the United States is seeking to seize 127,271 bitcoins (about $12 billion) related to a cross-border Ponzi scheme operated by Cambodian national CHEN ZHI.

The U.S. Office of Foreign Assets Control (OFAC) has imposed comprehensive sanctions on 146 targets within the Prince Group Transnational Criminal Organization (Prince Group TCO). The organization, headquartered in Cambodia and led by Cambodian national Chen Zhi, operates a cross-border criminal empire through online investment scams targeting the United States and other regions globally.