This is reported by Fox News.
Raids were held in Asia, Africa and the Middle East. Almost 300 people were detained. About 2,000 people were released from centers where they were held and forced to participate in fraudulent schemes.
Additionally, about $30 million was seized from entities associated with scam sites in Myanmar.
The trail of the largest case is in Cambodia
The bulk of the seized funds are associated with the chairman of the Cambodian Prince Holding Group, Chen Zhi.
We are talking about more than 127,000 BTC. Back in October 2025, the U.S. Department of Justice filed the largest seizure in its history – some 127,271 BTC – and indicted Chen Zhi. He is also known as Vincent.
The investigation claims that the businessman organized a network of scam centers in the country. People were held against their will and forced to participate in crypto-investment schemes. The damage, according to authorities, runs into billions of dollars worldwide.
At the time of the publication of the charges, Chen Zhi remained at large.
Cutting a pig
According to the DOJ, the centers worked on the pig butchering model – long-term trust building through messengers and social networks with the subsequent involvement of the victim in “profitable” crypto projects.
After the transfer of funds, the platform disappears and the money is withdrawn.
US authorities call such schemes one of the most destructive forms of crypto fraud. According to the FBI, the reported damage increased from $5.8 billion in 2024 to more than $7.2 billion in 2025.
The key infrastructure, according to the investigation, was located in industrial scam centers in Cambodia, as well as in the border areas of Myanmar and Thailand.
After the lawsuit was filed in 2025, AP, citing the case file, reported: 127,271 BTC was valued by authorities at more than $14 billion at the then exchange rate.
If the court approves the seizure, part of the funds will be used to compensate victims.
Operation Blackout has become one of the largest international operations against crypto fraud and human trafficking. The investigation is ongoing.
