LONDON, Oct. 24, 2025 — British and American authorities have launched one of the largest joint crackdowns on transnational cybercrime, targeting a network accused of running torture compounds in Cambodia and Myanmar, trafficking workers, and orchestrating a $14 billion cryptocurrency fraud.
Scale of the Operation
- The U.S. Department of Justice and Treasury Department confirmed the seizure of more than 127,000 Bitcoin, valued at over $14 billion, in what officials described as the largest digital asset forfeiture in history CNA Parameter.
- In parallel, the UK government froze 19 London properties worth £130 million, including luxury flats and commercial buildings, tied to the network’s alleged ringleaders.
- The sanctions targeted Chen Zhi, chairman of Cambodia’s Prince Group, and Qiu Wei Ren, accused of masterminding the empire through forced labour and large-scale online scams.
Human Cost and Criminal Enterprise
Investigators allege the network operated industrial-scale scam centres, where trafficked workers were forced under threat of violence to run online fraud schemes. Victims worldwide were lured into romance scams, investment frauds, and crypto “pig butchering” schemes, generating billions in illicit profits.
The proceeds were allegedly laundered into luxury assets, including yachts, private jets, fine art, and prime London real estate.
Official Response
UK Home Secretary Yvette Cooper condemned the network as “a brutal criminal enterprise that exploited vulnerable people and defrauded victims across the globe.”
The U.S. Treasury described the action as a landmark sanctions package, cutting off the group’s access to international financial systems.
Broader Implications
The crackdown highlights how illicit networks exploit global property markets and cryptocurrencies to launder profits. Analysts say the case underscores the urgent need for tighter oversight of high-value real estate transactions and greater regulation of digital assets.
Outlook
Authorities stress that this is only the beginning of dismantling the empire. With billions already seized and assets frozen, investigators are pursuing additional leads to trace funds and hold perpetrators accountable.
Summary: UK and U.S. authorities have exposed a Southeast Asian scam empire accused of stealing over $14 billion in cryptocurrency and laundering profits through London property. The joint action, which froze £130 million in UK assets and seized record amounts of Bitcoin, marks a major escalation in the fight against transnational fraud and human trafficking.
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References:
- Channel News Asia – US charges Cambodian executive in $14bn crypto scam, seizes Bitcoin CNA
- Lawyer Monthly – $14B Bitcoin Seized in Cambodian Crypto Scam Crackdown Lawyer Monthly
- Parameter.io – US Seizes Record $14 Billion in Bitcoin from Cambodia Scam Ring Parameter
- UK Government – UK and US take joint action to disrupt major online fraud network
