U.S. Indicts Chen Zhi for Crypto Fraud and Money Laundering

2 mins mins

Key Points:

Chen Zhi indicted, Prince Group’s criminal activities unveiled.
Largest-ever $15 billion BTC seizure.
Indictment signals a crackdown on crypto fraud networks.

Chen Zhi, chairman of Prince Holding Group, has been indicted by the U.S. District Court for transforming the enterprise into a major crypto criminal organization on October 8, 2025.

The indictment highlights massive crypto fraud and potential market disruptions, reflecting increased international regulatory scrutiny on illicit crypto activities.

Chen Zhi Indictment Reveals $15 Billion Crypto Seizure

According to official documents, Prince Holding Group, presented as a real estate conglomerate, has been accused of illicit operations. Chen Zhi, known as Vincent, transformed the group into one of Asia’s largest criminal enterprises, according to authorities.

Following Chen’s indictment, the DOJ initiated a $15 billion civil forfeiture case, marking the largest crypto seizure by dollar value to date. Sanctions have been imposed on Prince Group and its associates, impacting numerous subsidiary operations.

U.S. Department of Justice, “Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that extracted billions of dollars in cryptocurrency from victims worldwide”: Justice.gov

Crypto Market Volatility and Regulatory Scrutiny

Did you know? The U.S. DOJ’s $15 billion BTC seizure associated with Chen Zhi’s case has surpassed previous high-profile crypto seizures related to Silk Road and Bitfinex.

Bitcoin (BTC), as reported by CoinMarketCap, is trading at $113,002.66 with a market cap of 2.25 trillion USD and a 58.75% dominance. Over the past 24 hours, BTC experienced a price decline of 2.35%, amidst trading volumes reaching 92.80 billion USD, reflecting the broader market’s reaction to regulatory actions.

bitcoin-daily-chart-3731 — Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 21:26 UTC on October 14, 2025. *Source: CoinMarketCap*

Experts from Coincu Research indicate potential regulatory changes influencing crypto market dynamics. Such high-profile cases are pushing towards stricter regulations, affecting financial systems globally. Historical data suggests that while this lawsuit is notably large, markets will remain volatile with potential reforms.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.