US & UK Seize $14 B Bitcoin in Massive Crackdown on Crypto Scammers

Authorities in the United States and United Kingdom have seized over $14 billion in bitcoin linked to an international fraud network, according to a BBC report. The move comes as part of a joint operation targeting alleged scammers who used online tactics to defraud victims globally.

The suspect at the center of the case is Chen Zhi, a UK and Cambodian national. He faces charges in New York involving wire fraud, money laundering, and running a criminal enterprise that allegedly exploited victims through crypto schemes. Prosecutors say he used forced labor camps to generate content for scams.

UK authorities also froze 19 properties tied to Chen’s network, including a London building valued at nearly £100 million. Officials argue that these assets were obtained through fraud and must be blocked from further misuse.

This enforcement effort demonstrates how governments are expanding their reach in the fight against cybercrime. It highlights growing cooperation across borders to tackle complex crypto-based scams and recover stolen funds from global fraud rings.