DOJ Seeks Ownership of $15 Billion in BTC from Fraud Scheme
- The U.S. Department of Justice filed a civil forfeiture complaint for approximately 127,271 BTC, valued at nearly $15 billion.
- This action is part of the largest forfeiture in DOJ history, linked to a “pig butchering” scam involving Chen Zhi.
- If granted, this order could increase U.S. Bitcoin reserves from the current holdings of about 198,021 BTC to approximately 325,292 BTC.
- The move aligns with President Trump’s executive order on establishing a Strategic BTC reserve using confiscated assets.
- Currently, the U.S. holds more Bitcoin than any other government entity, surpassing China’s holdings of around 190,000 BTC.
The DOJ’s forfeiture could significantly enhance the U.S.’s position in Bitcoin ownership and support ongoing legislative efforts like the BUTCOIN Act aimed at formalizing this reserve strategy.
Should the court approve the forfeiture order for $15 billion in BTC, it would enable the U.S. government to potentially hold up to $36 billion in Bitcoin reserves.(Source)
