U.S. Government Seizes Over 127,000 Bitcoins in Major Fraud Case
- The U.S. government seized more than 127,000 bitcoins from Chinese national Chen Zhi.
- The seizure is linked to an international fraud ring known as Prince Group.
- Authorities allege the bitcoins were tied to the old mining pool, Lubian.com.
- Lubian.com was reportedly both funded and managed by the fraud ring.
The U.S. government’s recent action against Chen Zhi and the Prince Group highlights significant legal measures taken against illicit cryptocurrency activities involving mining operations like Lubian.com.
This seizure of over 127,000 bitcoins underscores ongoing efforts to combat international fraud and secure digital assets from criminal networks. (Source)
