The United States and United Kingdom have seized approximately $15 billion in bitcoin and frozen properties in London owned by alleged leaders of scam operations based in Cambodia. These scams reportedly deceive victims globally and involve the exploitation and torture of trafficked workers. Six individuals, including two Chinese-born businessmen, have been subjected to travel bans and sanctions as part of an initiative aimed at addressing the rising threat of organized crime gangs conducting large-scale online fraud.
On a recent announcement, the US Department of Justice reported the seizure of around 127,271 bitcoins, believed to be proceeds from fraud and money laundering. This action marks the largest forfeiture in the history of the department. Among the frozen assets are properties such as a £12 million mansion and a £95 million office block in central London.
Cambodia has been identified as a significant hub for scams, with operatives setting up environments to deceive victims through fake investment opportunities and false romantic relationships, a process colloquially known as “pig butchering.” Many individuals involved in the scams are themselves victims, misled by promises of lucrative employment, only to discover they are trapped in dire conditions. Reports indicate that those who have escaped these centers have described severe mistreatment, including torture.
Amnesty International has raised concerns regarding the Cambodian government’s inaction, suggesting complicity in the ongoing abuse. Investigations by the UK’s Foreign Office and the US Office of Foreign Assets Control have identified numerous assets belonging to key figures in these scams, particularly Chen Zhi, the chairman of the Prince Group. His businesses, which include casinos and property developments, have been affected by the sanctions enacted in collaboration with the US.
Authorities have reported that operations at these scam facilities are heavily fortified, with workers facing violence for attempting to escape. The UK’s Foreign Secretary has noted the importance of addressing this transnational issue to uphold human rights and combat financial crime.
Source: https://www.theguardian.com/uk-news/2025/oct/14/uk-us-sanctions-leaders-cambodia-scam-centres