US Files Complaint to Seize $14B in Bitcoin Linked to Chen Zhi

The United States has initiated a civil forfeiture complaint to seize 127,271 Bitcoin, valued at $14 billion, linked to Chinese businessman Chen Zhi. This move follows allegations of his involvement in a major global pig-butchering and investment fraud scheme.

The complaint was filed in the Eastern District of New York targeting Chen Zhi, chairman of Cambodia's Prince Group, for orchestrating scams involving crypto investments, human trafficking, and forced labor.
Victims were reportedly defrauded through fake romantic and investment schemes, with funds converted into Bitcoin and other digital assets.
US authorities traced these funds through exchanges like Binance to cold storage wallets controlled by Zhi's associates.
The Department of Justice's National Security Division and blockchain analytics firms were instrumental in tracking these transactions.
Efforts to recover assets from cyber frauds have increased, with Chainalysis identifying over $75 billion in illicit crypto holdings.

US Government Bitcoin Management

The US government moved 668 Bitcoin (worth approximately $74.8 million) on October 14, 2025, as part of managing seized assets amid weaker market conditions.

The US controls 198,012 Bitcoin, valued at around $22.25 billion, representing about 0.943% of Bitcoin's total supply.
Recent policy changes indicate a shift towards retaining seized Bitcoin for strategic reserves.
An executive order by President Trump in March 2025 established a Bitcoin Strategic Reserve and Digital Asset Stock Pile.

These developments highlight increased government intervention in crypto asset management and potential implications for investors.