Prince Group’s Pig Butchering Scams: DOJ Nabs $15 Billion in Bitcoin Bust
Chen Zhi, a.k.a. Vincent, led the Prince Group in a billion-dollar pig butchering scam, involving romance baiting and fake investments. The U.S. Department of Justice seized $15 billion in bitcoin. Despite hiding funds through laundering techniques, it wasn’t enough to keep them from getting roasted by the law!
Hot Take:
Move over, Ocean’s Eleven, there’s a new heist in town! But this time, the crooks swapped the suave suits for dating apps and their getaway cars for cryptocurrency. The DOJ’s big win against the Prince Group is like a real-life action movie—complete with romance scams, luxury yachts, and a Picasso painting. Who knew love could be so costly?
Key Points:
- DOJ seizes $15 billion in bitcoin from the Prince Group, a notorious criminal organization.
- The group used romance baiting and pig butchering scams to steal from victims worldwide.
- Chen Zhi, aka Vincent, the mastermind behind the scheme, is still on the run.
- The organization operated forced labor camps in Cambodia for their fraudulent activities.
- U.S. and U.K. authorities have sanctioned Chen Zhi and 146 other targets.
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