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Cambodian Businessman Flees With $1.8B in Bitcoin

Solomon M. by Solomon M.
October 16, 2025
in Bitcoin News
Cambodian Businessman Flees With $1.8B in Bitcoin

Cambodian Businessman Flees With $1.8B in Bitcoin

Key Points:
  • Cambodian businessman linked to major Bitcoin scam evades capture.
  • Authorities have seized most but not all stolen funds.
  • Ongoing investigations may impact crypto market and regulation.

Chen Zhi, chairman of Cambodia’s Prince Group, is implicated in a $1.8 billion Bitcoin scam, known as “pig butchering,” involving forced labor operations across Southeast Asia.

The event marks a significant blow to global financial fraud efforts, highlighting vulnerabilities in crypto security and prompting increased law enforcement and regulatory scrutiny.

Chen Zhi, chairman of Cambodia’s Prince Group, has been identified as a pivotal figure in a multi-billion-dollar Bitcoin scam. Global authorities have seized over $15 billion tied to his network, yet Chen remains at large with $1.8 billion still missing.

The United States Department of Justice announced measures against Chen for orchestrating a criminal network involving forced labor fraud operations, known as “pig butchering.” Current investigations highlight his strategic role in this extensive financial scheme, causing a significant impact.

This event has rippled through the cryptocurrency market, causing considerable shifts in Bitcoin’s liquidity and transaction flows due to the associated enforcement actions. The seizure of such significant assets has impacted broader market dynamics, indicating increased scrutiny in the crypto space.

Authorities have leveraged tools like blockchain analytics to dismantle the operation, demonstrating the role of transparent blockchain networks in enforcing financial crime regulations. These actions highlight the potential implications for future regulatory frameworks and cross-border cooperation on crypto-related crimes.

The Prince Group’s substantial Bluetooth transfers are still being monitored, indicating enhanced tracking and surveillance by regulators. Engagement with blockchain analytics firms has confirmed Chen-linked activity, showcasing the enduring influence of illicit networks on cryptocurrency movement.

Insights suggest potential outcomes could include stricter financial regulations and technological adaptations to improve tracking and tracing of illicit funds. Historically, precedents like the Silk Road seizures further inform ongoing efforts to mitigate criminal activities tied to cryptocurrencies.

“By dismantling a criminal empire built on forced labor and deception, we are sending a clear message that the United States will use every tool at its disposal to defend victims, recover stolen assets and bring to justice those who exploit the vulnerable for profit.” — Pamela Bondi, Attorney General
Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

Previous Post

Chen Zhi Accused in $1.8B Bitcoin Heist

Solomon M.

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