Scammer Chinese-Cambodian businessman and former Prince Group chairman Chen Zhi

FBI seizes record $8 billion in cryptocurrency in global crackdown on scam compounds

The FBI has arrested hundreds of suspects and seized more than $8 billion in cryptocurrency, the largest forfeiture in U.S. government history, in a sweeping intercontinental operation targeting organized crime networks that ran fortified scam compounds across Southeast Asia, the Middle East, and Africa.

The crackdown, led by FBI Director Kash Patel, dismantled a web of fraud factories that lured victims through romance schemes, fake cryptocurrency investments, and extortion, all while trafficking migrant workers and forcing them to run the scams under threat of beatings and torture.

At the center of the operation sits 39 year old Chen Zhi, CEO of Cambodia's Prince Holding Group, who now faces federal charges of wire fraud and money laundering conspiracy.

Agents confiscated more than 127,000 bitcoin from Chen, a haul Fox News reported could be worth more than $15 billion at the time of seizure, depending on market valuations.

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Trump Rally in Nashville today

Trump Speaks at Bitcoin 2024 Conference in Nashville, Tennesee

When: Saturday, July 27, 2024
Time: 2:00 pm ET (3:00 pm CT)
Where: Music City Center in Nashville, TN

Laura Loomer calls out Jack Dorsey at Bitcoin Miami

Twitter CEO, Jack Dorsey was acting as a panelist at the event. Laura Loomer took advantage of this by using it as an opportunity to confront him about Twitter's human rights-violating censorship policies, as well as its election interference.

Laura is one gutsy gal.