The U.S. Department of Justice (DOJ) has filed one of the largest cryptocurrency forfeiture actions in history, a bid to seize 127,271 Bitcoin (BTC) worth roughly $12 billion, linked to a vast international “pig butchering” operation. Filed in the U.S. District Court for the Eastern District of New York (EDNY), the civil action targets assets allegedly controlled by Chen Zhi, a Chinese national accused of orchestrating the multi-billion-dollar “Synoptic” fraud network. According to court filings, the assets trace back to wallets connected to a series of deceptive crypto investment schemes, scams that blended romance and financial manipulation to defraud victims
The post U.S. Government Moves to Forfeit $12 Billion in Bitcoin Tied to Global “Pig Butchering” Scam appeared first on The Merkle News.
