In a significant development, Taiwan, Singapore, and Hong Kong have collaborated to seize assets from a Cambodian businessman, Chen Zhi, who is suspected of being the mastermind behind a global cyber-scam syndicate. This joint action comes as a result of a series of investigations that began when American prosecutors charged Chen with running a large-scale cyber-scam network spanning multiple countries, including the U.S., the U.K., and Palau. The U.S. authorities also revealed a massive seizure of crypto assets, including approximately $14 billion in bitcoin. But here's where it gets controversial... Chen, a Chinese national who gained Cambodian citizenship, has been accused of using his position in the Cambodian elite to operate his scamming activities. According to the U.S. indictment, Chen once boasted that his so-called 'pig butchering' scam was generating $30 million a day. This is the part most people miss... The Prince Holding Group, Chen's company, has been alleged to have scammed 250 victims in the U.S. alone. The growing list of asset seizures includes financial assets worth over $150 million, a yacht, and shelves of liquor. The U.K. authorities announced the seizure of a $12 million mansion in North London and a $100 million office building. The question remains: How did Chen manage to amass such a large fortune, and what does this mean for the future of cybersecurity and international cooperation?
