US EditionIn Depth: The Downfall of the Cyber Kingpin Behind the $15 Billion Bitcoin Seizure
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14 Articles
In Depth: The Downfall of the Cyber Kingpin Behind the $15 Billion Bitcoin Seizure
In Depth: The Downfall of the Cyber Kingpin Behind the $15 Billion Bitcoin Seizure - Chen Zhi posed as a business magnate and philanthropist. Behind the scenes, U.S. and Chinese authorities say he led a vast cyberfraud empire exploiting crypto, forced labor and weak regional oversight
Cambodia has delivered the alleged online scammer Chen Zhi. The incident is related to the confiscation of over 120,000 bitcoins.
Bitcoinist
23,000 Bitcoin In Limbo As China Detains Scam Boss Chen Zhi
Cambodia has detained and extradited Chen Zhi, the alleged operator of a sprawling “pig-butchering” and online fraud network, to China, creating a new question for crypto markets and law enforcement: what happens to the Bitcoin still linked to him on-chain. The arrest and handover were announced by Cambodian authorities this week after what officials described as months of joint investigative cooperation with Beijing. Chen’s Cambodian citizenshi…
Key points of the news: Chen Zhi, president of Prince Group, was arrested in Cambodia and sent to China. He is linked to a network of "pig killing" and forced labor scams. The U.S. claims the seizure of the biggest booty in Bitcoin in its history. This Wednesday the businessman and founder of the conglomerate Prince Group. Chen Zin, was arrested and deported to China in the middle of an operation that shakes the foundations of global cybersecuri…
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