Back to today’s briefing

Story perspectives

U.S. Seizes $15 Billion Bitcoin in Fraud Case

10/19/2025

26 3

Summary

Story summary

The U.S. authorities seized nearly $15 billion in bitcoin linked to Cambodian businessman Chen Zhi.
He is accused of running a global forced-labor cryptocurrency fraud network that coerced workers.
The U.S. Department of Justice charged Chen Zhi with wire fraud and money laundering.
The government seeks a maximum sentence of 40 years if convicted.
The case has prompted calls for stricter cryptocurrency regulations and international cooperation.

1 of 1

Story summary

The U.S. authorities seized nearly $15 billion in bitcoin linked to Cambodian businessman Chen Zhi.
He is accused of running a global forced-labor cryptocurrency fraud network that coerced workers.
The U.S. Department of Justice charged Chen Zhi with wire fraud and money laundering.
The government seeks a maximum sentence of 40 years if convicted.
The case has prompted calls for stricter cryptocurrency regulations and international cooperation.