FBI Shuts Down Global Crypto Scam Network, Seizes Record $8 Billion

The FBI has dismantled a vast international crypto fraud network and seized a record $8 billion in digital assets. The operation, called Operation Blackout, involved raids on scam compounds across Asia, Africa, and the Middle East.

Agents confiscated more than 127,000 bitcoin linked to the case of Chen Zhi, CEO of Prince Holding Group in Cambodia. Officials said the cryptocurrency was worth over $8 billion at current prices and may have exceeded $15 billion when authorities seized it.

The FBI also freed nearly 2,000 people who were forced to run online investment and romance scams targeting victims worldwide. Chen Zhi was charged with conspiracy to commit wire fraud and money laundering.