Global Stock News

Doubts swirl around US plans for seized $15bn Prince Group crypto

Doubts swirl around US plans for seized $15bn Prince Group crypto

The US Justice Department last October announced the largest asset seizure in American history: a cache of bitcoin then valued at $15 billion tied to the Cambodia-based Prince Group that prosecutors alleged oversaw an empire of human trafficking and industrial-scale scamming.

The news offered a rare glimmer of hope for victims of sophisticated cryptocurrency scams. In part due to the ease of laundering cryptocurrencies, these victims have had a notoriously difficult time recovering their lost life savings or even getting law enforcement to begin tracing such funds.

“By dismantling a criminal empire built on forced labor and deception, we are sending a clear message that the United States will use every tool at its disposal…

Source link

Share this article

Scroll to Top