The U.S. Department of Justice has seized about $15 billion in bitcoin linked to a man accused of running a large “pig butchering” crypto fraud in Cambodia. The DOJ said it is the largest forfeiture in its history, CNBC reported.

Chen Zhi, also known as “Vincent,” remains at large. He is accused of leading Prince Holding Group, a Cambodia-based conglomerate prosecutors say operated as a major criminal network across Asia.

DOJ Alleges Bribery in Crypto Scheme

The group allegedly ran forced-labor compounds where trafficked individuals were made to conduct crypto scams. Victims, often contacted online, were persuaded to transfer funds with promises of investment returns. Prosecutors say the money was stolen and laundered.

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Authorities also allege Zhi and his associates used political influence and bribery to protect the operation in multiple countries.

🚨 Explosive News! 🇺🇸 The DOJ just pulled off its biggest seizure ever, confiscating $15B in #Bitcoin from a massive 'pig butchering' scam operating out of 🇰🇭 Cambodia.
Is now the moment for a 🇺🇸 Strategic #Bitcoin Reserve? 👀 #crypto #btc #CryptoCommunity pic.twitter.com/KQ67rOpRU3

— TheCryptoRadar⭐ (@thecryptoradar1) October 14, 2025

SEC Warns About Rising Pig Butchering

Meanwhile, the U.S. Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission’s Office of Investor Education and Advocacy has launched a public campaign to raise awareness about relationship-based investment scams, often called romance scams, financial grooming scams, or “pig butchering” schemes.

‘Dating or Defrauding?’ a Joint Effort to Alert Online Daters, Social Media Users of Relationship Investment Scams: https://t.co/n7uIO6n5wC pic.twitter.com/avtZ1WoJyp

— CFTC (@CFTC) February 10, 2025

These scams typically start with unsolicited messages on social media or dating apps, where scammers build trust over time before convincing victims to invest in fraudulent opportunities.

The Commodity Futures Trading Commission has also initiated a similar campaign, “Dating or Defrauding?”, highlighting nearly $4 billion in losses last year.

The SEC’s campaign includes educational videos, resource pages, and guidance advising investors to avoid unknown contacts, be skeptical of unsolicited offers, and report suspicious activity. Officials emphasized that such scams can result in billions of dollars in losses annually, underlining the importance of investor vigilance.