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A Chinese businessman, Chen Qi, the mastermind behind the scam known as “PIG BUTCHERING,” has sued the U.S. government to challenge its seizure of 127,271 #Bitcoin.
His lawyers filed a motion in a federal court in New York seeking to overturn the seizure, arguing that the case against him is based on “fraudulent and clearly baseless” allegations.
The defense said the claims that Chen was overseeing scam compounds are “ambiguous and rely on public statements and background comments about the situation in Cambodia.”
They also questioned the timing of the seizure, stressing that Bitcoin cannot be considered scam proceeds or money laundering.
Pressure on Chen increased in October 2025, after the United States imposed broad sanctions on him, the Prince Group, and several associated companies and individuals.
The U.S. Treasury Department described the network as an “imperial criminal organization” linked to global online scam schemes that targeted Americans.
Federal prosecutors unveiled an indictment listing charges including money laundering and scams through transfers, stating that authorities seized 127,271 Bitcoins, worth roughly $15 billion at the time, in the largest Bitcoin seizure ever recorded...
#WCTCTradingKingPK $BTC ##FedHoldsRateButDividesDeepen #TapAndPayWithGateCard