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UK & US Sanction Cambodia Scam Kingpins, Seize $15 B Bitcoin

Featured Replies

 

 

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The UK and US have jointly imposed sanctions on six alleged leaders behind Cambodia-based scam operations, freezing their assets and seizing cryptocurrencies worth about $15 billion.

 

The move targets a sprawling network running “pig butchering” scams—online frauds that build romantic or investment trust before stripping victims of money. 

 

Authorities say the US Department of Justice confiscated roughly 127,271 bitcoins—the largest forfeiture in its history. Properties belonging to these suspects in London are now frozen, including a £12 million mansion and a major City office tower. 

 

Among those sanctioned is Chen Zhi, chair of the Prince Group, who is believed to have bought citizenships in Cyprus and Vanuatu, and held influential ties in Cambodia. Other implicated firms include Golden Fortune Resorts World, Jin Bei Group, and Byex Exchange. 

 

Victims of these scam centres are sometimes enticed to Cambodia under false job promises—then trapped, forced to conduct fraud under threat or torture. Survivors have reported beatings, electrocution chambers, and at least one death of a South Korean student. Some critics accuse the Cambodian government of turning a blind eye, hampering investigations. 

 

 

 

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UK Foreign Secretary Yvette Cooper called the sanctions a “decisive action” to hold these “masterminds” accountable, protect UK nationals, and prevent dirty money from entering the financial system. The sanctions work in tandem with US measures to shut these networks out of global finance. 

 

 

 

Key Takeaways

 

1. Massive crypto seizure & asset freeze — The US & UK confiscated ~$15B in bitcoin and froze high-value UK property belonging to accused scam leaders.

 

 

2. Cambodia scam hubs under spotlight — The sanctions target Cambodia-based operations that imprison workers and execute large-scale fraud globally.

 

 

3. Tightening global coordination — The measures show rising cooperation between Western governments to crack down on organised online crime.

 

 

Adapted From 

 

https://www.theguardian.com/uk-news/2025/oct/14/uk-us-sanctions-leaders-cambodia-scam-centres

9 minutes ago, Bacon1 said:

1. Massive crypto seizure & asset freeze — The US & UK confiscated ~$15B in bitcoin and froze high-value UK property belonging to accused scam leaders.

 

So much for crypto being safe from the gub'ments' reach.

 

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