In what marks the largest cryptocurrency seizure in history, the U.S. government has confiscated $14 billion worth of Bitcoin linked to Cambodian businessman Chen Zhi. This unprecedented action highlights a massive, transnational scam empire primarily operated out of Cambodia, involving severe allegations of human trafficking and extensive crypto fraud.

Chen Zhi, the 38-year-old founder of Prince Holding Group, has been charged with orchestrating the most significant crypto scam of 2025, as U.S. prosecutors seized 127,271 Bitcoin. According to the Department of Justice (DOJ), Chen built a "sprawling cyber-fraud empire," laundering billions through phony crypto investment schemes and a network of shell companies, extending his influence to London real estate valued at over £100 million. Despite these charges, Chen remains at large, with U.S. and U.K. law enforcement freezing 19 British properties and imposing sanctions on several companies linked to his enterprise.

The human toll of this scam is harrowing. Court documents reveal that Chen’s business empire included ten forced-labour compounds in Cambodia, described as "digital prisons." Here, trafficked workers were coerced into operating scams non-stop, stripped of their passports, and confined behind barbed wire. These workers ran "phone farms," using thousands of devices to impersonate investors or romantic partners, ensnaring victims into fraudulent crypto deals.

Assistant Attorney General John A. Eisenberg commented, "This wasn’t just financial crime, it was human exploitation masked as fintech innovation." The scale of these operations is vast, with just two of these compounds managing over 76,000 social media profiles.

Chen’s luxurious lifestyle, funded by his criminal activities, included private jets, rare watches, and fine art, with notable purchases such as a Picasso from a New York auction house. His assets in London through shell companies encompassed 17 luxury flats and significant commercial properties.

The ramifications of this seizure are immense, potentially impacting the global crypto market. Analysts suggest that if these Bitcoin are liquidated, it could significantly affect Bitcoin’s market price, especially if converted to fiat currency for victim restitution. This situation could also accelerate a new wave of crypto regulations, especially concerning anti-money-laundering (AML) and know-your-customer (KYC) practices.

Chen’s connections with Cambodia's political elite have previously shielded his operations, reflecting a broader issue of elite protection within the country. However, this case stands as a significant moment in the fight against the blend of cryptocurrency, organized crime, and human trafficking, signaling a shift toward stronger international cooperation and stricter oversight of digital assets.

The seized Bitcoin, now in U.S. government custody, may be used to repay victims, pending court approval. Meanwhile, Chen faces up to 40 years in prison if convicted, underscoring the severe consequences of his alleged actions. This case not only represents a financial and technological battle but also a crucial fight against human exploitation and digital deceit.