Prince Group chairman asks US court to dismiss BTC seizure lawsuit

Chen Zhi, chairman of Prince Group and the alleged mastermind behind a 'pig butchering' scam in Cambodia, has asked a U.S. court to dismiss a lawsuit over Bitcoin seized by the U.S. government. According to Bloomberg, Chen's legal team filed documents with a New York federal court, challenging the seizure on procedural grounds related to its timing. They argued that the assets could not be the proceeds of fraud or money laundering. The U.S. Department of Justice had previously seized 127,271 BTC, valued at approximately $15 billion, belonging to Chen.