Cambodia's Cybercrime Kingpin Brought Down by $15 Billion Bitcoin Seizure

Chen Zhi's rise from internet cafe manager to Cambodian tycoon seemed meteoric, but behind the glittering facade, authorities discovered a complex web of alleged scams and financial irregularities. The sudden fall of Prince Group, Chen's business empire, has sent shockwaves through Cambodia's booming real estate, banking, and casino sectors.

A joint investigation by Chinese and US authorities led to the arrest and repatriation of Chen in January, after his Cambodian citizenship was revoked. The seizure of $15 billion worth of bitcoin has sparked intense scrutiny of Prince Group's operations, with allegations of large-scale 'pig-butchering' scams and money laundering.

The collapse of Chen's empire highlights the ease with which wealthy individuals can exploit loopholes in international financial systems, often with impunity. As authorities grapple with the extent of his involvement, one thing is clear: Chen Zhi's alleged scam network has left a trail of devastation across multiple countries.