The U.S. Department of Justice has seized 127,271 bitcoins, valued at nearly $15 billion, in a high-profile case involving Chen Zhi, chairman of Cambodia’s Prince Holding Group. The indictment accuses Chen of running a criminal network involved in online gambling, forced labor, and investment scams, with connections to the Chinese mining firm LuBian. The bitcoins are believed to have been stolen in a 2020 hack of LuBian’s wallets, exploiting a cryptographic flaw known as 'Milk Sad.'
The DOJ asserts that Chen personally controlled the private keys to the compromised wallets. This seizure significantly enhances the U.S. government's 'Strategic Bitcoin Reserve,' increasing it by 64%, and underscores the growing focus on digital asset recovery in criminal investigations.
US DOJ Seizes $15 Billion in Bitcoin Linked to Cambodian Prince Group
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