โก๐ฐ๐ญ NEW - The alleged leader of a huge crypto scam network, Chen Zhi, was arrested this week in Cambodia before being extradited to China.
He is accused of orchestrating scam pig butchering, a method that involves gaining the trust of victims before gradually extracting huge sums of cryptocurrency from them.
According to the US Department of Justice, the network stole more than 127,000 bitcoins, worth nearly $12 billion, which are now in the custody of the US government.
Chen Zhi, also the founder of Prince Holding Group, is being prosecuted for wire fraud and money laundering. Authorities are calling it the largest seizure of crypto assets ever made in a civil case.