US DOJ seeks to forfeit $12B in BTC tied to romance scam

The U.S. Department of Justice is seeking to forfeit 127,271 BTC, valued at $12 billion, in connection with a "pig butchering" romance scam, Unfolded reported. The funds are allegedly linked to a scheme led by Chinese national Chen Zhi. Chen Zhi, through the Cambodia-based Prince Group, ran an international criminal network behind crypto investment scams in more than 30 countries. The U.S. Attorney’s Office for the Eastern District of New York has since indicted him.