In Coordinated Strike, US UK Sanction Crypto Crime Ring After Record $15B Bitcoin Seizure

In a major coordinated action against transnational financial crime, US and UK agencies have targeted a massive crypto scam network, resulting in the largest Bitcoin seizure in US history.

The Department of Justice forfeited nearly 130,000 BTC (worth $15 billion) from the syndicate, while the Treasury’s OFAC unit imposed sanctions on the group led by Chen Zhi.

The operation not only disrupts a criminal organization using forced labor but also inadvertently transforms the US government into a dominant force in the crypto market, with total holdings now at $36 billion.