The U.S. government is moving to seize 127,271 BTC, valued at roughly $14 billion, tied to a sprawling online investment scam run by Chinese émigré Chen Zhi, 38, and his Cambodia-based Prince Group Transnational Criminal Organization.

The action, announced Monday by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN), comes as part of a sweeping crackdown on transnational cybercriminal networks and scams targeting U.S. and allied citizens. 

Chen Zhi, also known as “Vincent Chen,” had built a multi-billion-dollar empire in Cambodia through online scams that lure victims into fraudulent investment schemes known as…

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