All news with #pig butchering tag

U.S. Launches Strike Force Against Chinese Crypto Scams

🚨The U.S. Department of Justice, U.S. Attorney's Office, FBI and Secret Service have created the Scam Center Strike Force to disrupt Chinese-operated cryptocurrency scam networks that reportedly steal nearly $10 billion from Americans annually. The team focuses on tracing illicit funds, seizing cryptocurrency and coordinating international partners to dismantle scam infrastructure based in Southeast Asia. Authorities say many operations run from criminal compounds where workers are victims of trafficking. More than $401 million in crypto has already been seized and additional forfeiture actions are underway.

US Seizes $15 Billion in Crypto from Scam Kingpin Leader

💰 The U.S. Department of Justice has seized $15 billion in bitcoin tied to Chen Zhi, leader of the Prince Group, a transnational criminal network that ran large-scale “pig butchering” cryptocurrency investment and romance scams. Unsealed court documents describe fortified forced-labor compounds in Cambodia, automated call centers, and over 100 shell companies spanning 30+ countries. The Treasury’s OFAC also sanctioned Chen Zhi and 146 associates as part of the coordinated action.