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The FBI uncovered a scam center network and seized $8 billion in Bitcoin - ForkLog: cryptocurrencies, AI, singularity, the future
The FBI announced the seizure of over 127,000 BTC worth approximately $8 billion as part of the international Operation Blackout against scam centers and related networks. This was reported by Fox News.
Raids took place in Asia, Africa, and the Middle East. Nearly 300 people were detained. About 2,000 individuals were freed from centers where they were held and forced to participate in fraudulent schemes.
Additionally, approximately $30 million was confiscated from entities connected to scam platforms in Myanmar.
The next largest case — in Cambodia
The main amount of seized funds is linked to Chhun Chhiv, chairman of Cambodia’s Prince Holding Group.
This involves more than 127,000 BTC. In October 2025, the U.S. Department of Justice filed its largest-ever forfeiture lawsuit — about 127,271 BTC — and charged Chhun Chhiv. He is also known as Vincent.
The investigation claims that the businessman organized a network of scam centers in the country. People were held against their will and forced to participate in crypto investment schemes. The authorities estimate the damages at billions of dollars worldwide.
At the time of the charges, Chhun Chhiv remained at large.
Pig butchering scheme
According to the Department of Justice, the centers operated on the pig butchering model — a long-term trust-building process through messengers and social media, followed by involving victims in “profitable” crypto projects.
After transferring funds, the platform disappears, and the money is withdrawn.
U.S. authorities describe such schemes as one of the most destructive forms of crypto fraud. According to the FBI, the reported damages increased from $5.8 billion in 2024 to over $7.2 billion in 2025.
The key infrastructure, according to investigators, was located in industrial scam centers in Cambodia, as well as in border regions of Myanmar and Thailand.
After the lawsuit was filed in 2025, AP, citing case materials, reported that the 127,271 BTC was valued at over $14 billion at the time.
If the court approves the confiscation, part of the funds will be used for compensation to victims.
Operation Blackout became one of the largest international operations against crypto fraud and human trafficking. The investigation is ongoing.
Recall that in 2025, the U.S. Treasury imposed sanctions on nine entities in Myanmar and ten in Cambodia for involvement in organizing fraudulent schemes using cryptocurrencies.