Catenaa, Friday, October 24, 2025-The US government’s bitcoin reserves jumped past $36 billion following a record forfeiture of 127,271 BTC, worth roughly $14 billion, tied to a massive crypto fraud network.
Authorities filed a civil forfeiture complaint against former Chinese national Chen Zhi, who faces charges related to Cambodia-based crypto scams, wire fraud, money laundering, and coercion of forced labor. The Department of Justice said the seizure is the largest in its history.
The Treasury’s OFAC and FinCEN, in coordination with the UK, sanctioned 146 individuals linked to the Prince Group Transnational Criminal Organization. Prosecutors said Zhi managed industrial-scale fraud, extortion, and trafficking of enslaved workers in multiple scam operations.
Before the seizure, US bitcoin holdings totaled about $22 billion.
Treasury Secretary Scott Bessent said the government is acting to protect Americans from predatory foreign criminals, emphasizing close cooperation with federal and international partners.
The DOJ seizure adds to the US reserve without plans for new purchases for strategic purposes.
