US Senator Cynthia Lummis (R-WY) on Tuesday praised the Trump administration’s coordinated crackdown on the Prince Group, a Cambodia-based conglomerate that US authorities allege ran forced-labor “pig-butchering” cyber-fraud compounds and laundered criminal proceeds through bitcoin at unprecedented scale.

A Win For The US Strategic Bitcoin Reserve?

Federal prosecutors in Brooklyn unsealed an indictment charging Prince Group chairman Chen Zhi with wire-fraud and money-laundering conspiracies, while the Justice Department filed a civil forfeiture complaint against roughly 127,271 BTC—about $14–$15 billion at current prices—now in US government custody. The Treasury Department, in parallel, designated Prince Group a transnational criminal organization and moved to sever the Huione Group f

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