Recently, federal authorities in New York announced the massive seizure of around $15 billion in bitcoins from alleged cryptocurrency kingpin Neak Oknha Chen Zhi, also known as “Vincent,” who is accused of running forced labor camps in Cambodia where migrants were exploited to carry out online scams.
According to the indictment, Chen Zhi and his network orchestrated large-scale crypto fraud schemes, using illegal profits to acquire yachts, planes, and even works of art. Prosecutors stated that victims were confined in compounds surrounded by walls and barbed wire, forced to operate thousands of fake accounts and deceive people worldwide while the illicit funds were laundered through shell companies.
The network reportedly laundered millions of dollars through operations in the United States and abroad. Authorities have indicated that the seized assets could be used to compensate the victims if approved by the court.
¿What does this seizure represent in the fight against fraud and human trafficking?
Beyond its financial impact, this operation stands as one of the most significant blows against the intersection of labor exploitation, cybercrime, and money laundering. It sends a powerful message to criminal networks: ‘large-scale illicit wealth can be traced, and ultimately seized by justice’.
