The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned 25 Bitcoin wallet addresses associated with Chen Zhi, the alleged leader of a major crypto scam in Cambodia. These wallets reportedly contain $780 million in Bitcoin linked to Zhi and his company, Prince Group. This action follows a Department of Justice (DOJ) indictment on October 14 for wire fraud and money laundering.
On the same day, the DOJ announced the seizure of $15 billion in Bitcoin, allegedly stolen from LuBian, a former Chinese mining pool connected to Zhi's business operations. The sanctions and seizures are part of a broader effort to dismantle Zhi's extensive crypto fraud network.
US Sanctions 25 Bitcoin Wallets Tied to Crypto Scam Leader Chen Zhi
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