U.S. DOJ Seizes $15B in Bitcoin from Global “Pig Butchering” Crypto Scam – Chen Zhi Wanted

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Well, well, well, look who’s been up to some *very* shady business. The U.S. government has just made one of the largest cryptocurrency seizures in history – a whopping 127,271 Bitcoin, valued at an eye-watering $15 billion. And who’s behind it? None other than Chen Zhi, a Chinese-born businessman, who apparently thought he could run a “pig butchering” scam on a global scale. Oh, and he’s still on the run. Classic.

Largest Crypto Scam in U.S. History (Not the Kind of Record You Want)

On October 14, the Department of Justice (DOJ) filed a civil forfeiture complaint to take control of the seized Bitcoin. The government claims this is the largest crypto seizure ever-because when you’re talking $15 billion, who’s counting the small stuff? 😒

And as if things weren’t already suspicious enough, Chen Zhi-also known as “Vincent” (because why not?)-is accused of running forced-labor scam camps in Cambodia. Yes, actual human trafficking, where poor victims were trapped and forced into running these “pig butchering” crypto scams. 🌍💸 Not the best career path, I’d say.

But wait-there’s more! An on-chain investigator named ZachXBT pointed out that the same Bitcoin wallet linked to this scam was flagged two years ago for a *weak* private key. You know, just a little thing that made it vulnerable to hacking. But now, surprise surprise, the U.S. government claims it has full control. The plot thickens. 🕵️‍♀️

How the Scams Worked? Let’s Break It Down

Now, you’re probably wondering how this whole thing actually worked. Well, let’s say it was less about “getting rich quick” and more about “getting trapped.” 🤦‍♂️ Victims were lured in with fake job offers in IT or marketing (because who wouldn’t want to work in Cambodia, right?). But once they arrived, surprise! They were *forced* into scamming others. Sweet gig, huh?

The scam usually began with innocent online conversations-maybe a little romance, a little chit-chat, all harmless. But then, bam! They’d convince you to invest in fake crypto platforms. Trust built? Check. Funds transferred? Check. Your money? Gone. 😱 Oh, and it’s laundered through a network of over 100 shady companies around the world, just to add to the drama.

Billions Lost to Crypto Scams-That’s a Lot of Broken Dreams

According to the U.S. Treasury and Amnesty International, thousands of poor souls were trafficked into these scams, which generated billions of dollars in illicit profits. In 2024 alone, crypto scams like this cost users more than $4 billion. That’s a 40% jump from the year before, folks. So, yeah, things are getting worse out there. 😬

And guess what? Cambodia is now a major hotspot for these scams, with at least 53 active compounds identified this year. Maybe it’s time to rethink that vacation plan… ✈️

This whole scam reportedly defrauded thousands of investors across more than 30 countries. So, yeah, Chen Zhi’s little crypto empire was more like a global operation. We’re talking billions of illicit profits. It’s like the world’s worst Ponzi scheme-but with a little international flair. 🌍💰

Chen Zhi: Still on the Run and Laughing All the Way to the Bank

Now, here’s the kicker: The seized Bitcoin, which the U.S. government now controls, is worth a neat $15 billion. But Chen Zhi? Oh, he’s still running, still dodging the long arm of the law. And authorities aren’t just after him for financial crimes-they’re also making a *major* statement about human trafficking and crypto fraud. Welcome to the dark side of digital finance, folks. 🤯

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2025-10-14 22:13