Cambodia becomes the epicenter of global crypto fraud: US$15 billion in BTC seized

The situation is getting serious. South Korea has just banned travel to Cambodia due to kidnappings linked to online fraud schemes. In just 2025, 330 South Koreans were forcibly taken to clandestine complexes to work on “pig-butchering” scams and other traps involving crypto.

But the business is even bigger than it seemed:

The numbers are frightening:

• U.S. Treasury + United Kingdom expose cryptocurrency fraud network moving billions
• 127.271 BTC ( uns US $15 billions ) tracked as belonging to Chen Zhi, accused of leading the scheme.
• It is estimated that 200 people work in these centers, with about 1,000 being Korean.

The structure of the operation: They use AI, chatbots, and deepfakes to carry out scams. Victims ( frequently from various nationalities) are coerced into committing fraud. There are cases of people who went to Cambodia voluntarily and then couldn't leave — “simultaneously victims and offenders,” as said by South Korean security advisor Wi Sung-lac.

The dark side: A Prince Group ( Cambodian conglomerate ) is at the center of this, along with DW Capital ( family office in Singapore ). Chen Zhi remains at large and could face 40 years in prison if caught. Cambodian authorities are said to have ignored reports of human rights abuses.

This shows how crypto infrastructure can be exploited on a large scale when regulation is lax. The global impact: increasing pressure for international action against crypto fraud and human trafficking.

TL;DR: Giant crypto fraud network exposed, billions in BTC seized, Cambodia becomes target of international sanctions.