Article Summary

**U.S. Launches Historic Cryptocurrency Fraud Crackdown Against Prince Group's Global Scam Network** U.S. authorities have executed one of the largest transnational cybercrime crackdowns in history, indicting Chen Zhi, founder of Prince Group, for orchestrating massive cryptocurrency fraud operations spanning multiple countries. The Department of Justice announced charges in New York against the UK-Cambodian national for money laundering, wire fraud, and operating forced-labor scam networks that targeted Bitcoin and crypto investors worldwide. The indictment exposes sophisticated "pig butchering" cryptocurrency schemes that have devastated global digital asset markets, potentially involving millions in stolen Bitcoin and other cryptocurrencies. These elaborate crypto scams typically lure victims through fake investment platforms promising high returns on DeFi investments and blockchain projects. This landmark case signals intensified regulatory enforcement against cryptocurrency fraud networks, potentially impacting market sentiment and investor confidence in digital assets. The Prince Group investigation represents a significant victory for crypto market integrity, as authorities continue combating transnational cybercrime operations that exploit blockchain technology's anonymity features. The crackdown may influence future cryptocurrency regulations and compliance standards across international markets.