Bloomberg investigation reveals that Cambodian Crown Prince Group founder Chen Zhi has built a "pig slaughter" scam empire that earns 30 million USD daily through political and business connections. The empire ultimately collapsed after the United States confiscated 127,271 Bitcoins. Chen Zhi's criminal activities and international sanctions demonstrate the size and influence of his organization. Although he was arrested and extradited to China, the residual impact of the scam industry continues.

Taipei District Prosecutors Office has indicted 62 members of the Cambodian Prince Group, involving money laundering and organized crime totaling 10.7 billion yuan. After four months of investigation, prosecutors are seeking heavy sentences for core members and have seized assets such as luxury homes, supercars, and yachts. The group used "pig-butchering" scams to accumulate illegal proceeds and then concealed funds through a multi-layered money laundering system. This case has prompted judicial cooperation between Taiwan and the United States, demonstrating a close international law enforcement partnership.

U.S. authorities have seized over $580 million in cryptocurrency linked to Southeast Asian scam centers operated by Chinese criminals, targeting "pig butchering" fraud schemes and potentially addressing nearly $10 billion in annual losses for victims.

U.S. federal agents seized over $61 million in USDT linked to "pig butchering" scams, where victims were lured by fake relationships and promised high crypto returns. Tether cooperated with authorities in asset freezes related to money laundering and fraud cases.

Tether has frozen approximately $4.2 billion in Tether tokens in coordination with the U.S. Department of Justice's efforts against "pig butchering" scams and money laundering activities. The U.S. authorities recovered $61 million in Tether, indicating an increase in cryptocurrency money laundering activities, especially within Chinese-speaking communities. FATF urges countries to strengthen regulation to combat these types of financial crimes.

Tether announced on February 27 that it has frozen approximately $4.2 billion worth of cryptocurrency tokens, mainly due to involvement in "illegal activities." The freeze includes $61 million of USDT related to "pig butchering" scams. As a stablecoin issuer, Tether has the ability to remotely freeze specific wallets, demonstrating its centralized nature. Research indicates that cryptocurrency money laundering activities are rapidly increasing, and FATF has called for strengthened regulation to address the associated challenges.

The US Attorney's Office for the District of Columbia has announced that the Scam Center Strike Force has seized and frozen over $580 million in cryptocurrency from transnational criminal networks operating pig butchering scams out of compounds in Burma, Cambodia, and Laos.

_US authorities seize $580M in crypto scam tied to Chinese crime networks behind pig butchering scams across Southeast Asia._ United States authorities announced a major action against global crypto fraud networks. The United States Department of Justice confirmed more than $580 million in

North Carolina federal authorities have seized more than $61 million in a dollar-pegged stablecoin tied to a wide-ranging “pig butchering” scheme that exploited fake online romances and fraudulent trading platforms to ensnare victims. Prosecutors in the Eastern District of North Carolina in