“As the Justice Department Pursues Prince Group’s Leader, the Treasury Department Santioned the Company While Also Severing Huione from the Us Finance.”, – WRITE: www.coindesk.com
UK and Cambodian National Chen Zhi, The Founder and Chairman of Prince Group, Was Indicted in New York on Tuesday for Allegedly Conscing to Launder Money and Committee Wire Wire Justice. In that casse, the doj took what it said was it Largest-iter Crypto Seizure of 127,271 Bitcoin BTC$ 113.161.33Worth About $ 14.4 Billion at Current Value.
“Today’s Action RepreSents One of the MOST SIGNFICANT STRIRKES EVERKES AGAINST The Global Scourge of Human Trafficking and Cyber-Anabled Financial Fraud,” Said USA.
And in a coordinated effort, the US Department of the Treasury said it sanctioned Prince Group on Tuesday, Designating IT a transnational Criminal Organization and Alocking and Blocking ITSCIAL TOCIAL TOCIAL ACTIVATION Business with it without US repercussions.
According to a doj Statement, The Defendant and His Executives Secretly “Grew Prince Group Into One of Asia’s Largest Transnational Criminal Organizations.” One of the Leading Money Generators, Account to the Us Authoritities, Was So-Called “Pig Butchering” in Wich People-Largely in the Us-Are ScamMed For Crypto. Partners. “PRINCE GROUP CARRIED OUT TESE Schemes by Trafficking Hundreds of Workers and Forcing Them to Work in Compounds in Cambodia and Execute the Scaams Barbed-Wired Compounds, Political Influence and Sophisticated Crypto Laundering Effrts.
The CEO, WHO IS AT LARGE, AND TOSE Acusted As Co-Conspirators Are Said to Have a Lavish Lifestyles, Including in One Case of A Picasso Painting.
On the Same Day, the Treasury Finalized A Rule to Entirely Sever Cambodian Conglomerate Huione Group from the US Financial System – The MOST POTENT ACTION IN THE US INTERNATIONAL FINATAL ARSENAL ARS IT SAID PHNOM PENH-BASED HUione Had Been Launding Proceeds of Crypto Scams.
“The RAPID Rise of Transnational Fraud Has Cost American Citizens of Billions of Dollars, With Life Savings Wiped Out in Minutes,” SAID Secretary of the Treasury Scott Bessent, in A.
The Treasury Department Has Steadily Been Circling Cambodian Criminal Enterprises, Targeting Individuals Allegedly Connected with The Vast Array of Illicit Actoivities there. TOSE Crypto-Funded Operations Have Been A Focus of Digital Assets Analytics Firms, Investigators and Even Congression Inquiry.
Thought the System Hasn’T Yet Been Established in the Us, The Treasury Department Has Been Trying to Implement President Donald Trump’s Order To Set Up A Bitcoin Reserve. That “Strategic Is Meant As the Destination of Any Bitcoin Seized by the Us Government, Suggesting A Potential Final Stop for the Billions in Assets Taken in this Case.
The SPECIFIC Assets Seized in the Price Group Case Originated As Assets Said to Be Stolen from Lubian Analysis from Elliptic. Once said to be the Sixth-Largest Crypto Mining Operation in the World, Lubian Shut Down Shortly After The Assets Were Said to Go Missing in 2020.
“IT REMAINS UNCLEAR How The Bitcoins Came to Be in Us Custody,” Elliptic Said in It Report on Tuesday. “IT’s Also Unclear Who ‘Stole’ The Bitcoins from Chen/Lubian or Wheth AFTALLY DOOK PLACE.”
Read More: US GOVERNMENT BEGINS TO SEVER CAMBODIA’S HUDIOPE GROUP FROM FINANCAL SYSTEM
Update (October 14, 2025, 21:02 UTC): Adds Elliptic Analysis of Origin of Seized Bitcoin.
Combined Spot and Derivatives Volumes Fell 17.5% in September, Continuing A Four-Year Seasonal Trend
- Trading Activity Falls 17.5% In September Slowdown: Combined Spot and Derivatives Volumes Droped to $ 8.12 Trillion, Marking The FIRST DECLINE AFTER THREE MONHS OF GROWTH. September Has Now Seen Reduced Trading Volume for the Fourth Consuctive Year.
- Open Interest Reaches Record High Despite Derivatives Market Share Decline: Total Open Interest Surged 3.2% to $ 204 Billion and Peaked at An All-Time High of $ 230 Billion During the MONTH.
- Altcoins on cme Outperform as Bitcoin and Ether Futures Decline: While CME’s Total Derivatives Volume Stayed Flat at $ 287 Billion (-0.08%), Sol Futures Jumped 57.1% to $ 13.5 Billion and Xrp Futures Rose 7.19% to $ 7.84. BTC and Eth Futures Fell 4.05% and 17.9% Respectvely.
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A consrtium establissed by the companies Announted the recovery of clersius funs tieds to claims against tether.
- Tether Agreed to Give $ 300 Million to Close A Bankring Dispute With Failed Crypto Lender Celsius.
- The entity chasing the Money, the Blockchain Recovery Investment Consortium, is Run by Gxd Labs and Vaneck.
- Celsius – One of the Infamous Stars of the Crypto Industry’s Disastros 2022 – Exited Bankring Last Year.
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