cryptolinkbase.com
Cryptocurrency and Blockchain Knowledge Directory.
Category: Crypto General -> Bankruptcy and frauds
Type: article
The article reports on the collapse of a massive alleged $15 billion crypto scam empire after the arrest and extradition of Cambodian businessman Chen Zhi. Chen, widely accused of running one of Asia’s largest transnational fraud networks under the Prince Group, was detained in Cambodia and sent to China, ending operations that reportedly generated up to $30 million a day through “pig butchering” and other scams. U.S. authorities had previously seized around 127,000 Bitcoin linked to the scheme, one of the largest digital asset forfeitures in history, as part of a coordinated international crackdown on crypto-enabled fraud and money laundering. The takedown is prompting tighter regulatory scrutiny of digital finance worldwide.
