The United States and the United Kingdom have jointly sanctioned a Cambodian individual and his group, accusing them of establishing a transnational criminal network through "pig-butchering" scams, human trafficking, and money laundering. Authorities have seized approximately 120,000 Bitcoin, valued at around $15 billion. The individual, Chen Zhi, is seen as a symbol of the intertwining of business and politics in Cambodia and the country's burgeoning online scam industry. His close ties with the government have reportedly hindered local investigations, but international pressure is mounting.
U.S. and UK Sanction Cambodian Figure, Seize $15 Billion in Bitcoin
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