Chen Zhi’s lawyers ask court to dismiss US seizure of over 127,000 Bitcoin
Chen Zhi’s lawyers are challenging the US government’s seizure of over 127,000 Bitcoin, arguing insufficient evidence links the funds to illicit activities.Summary
Lawyers representing Chen Zhi, associated with the Prince Holding Group and accused of involvement in global scam operations, have filed a motion in US federal court to dismiss the government’s seizure of 127,271 Bitcoin. The US Attorney’s Office initiated a civil forfeiture case in October 2025, alleging the funds were linked to “pig-butchering” scams, romance fraud, and investment fraud. Chen’s legal team contends that the government has not demonstrated a clear connection between the seized Bitcoin and any criminal activity, questioning the authorities’ timeline and asserting that many accusations are false. The Bitcoin was initially valued at $14 billion but is now worth approximately $8.8 billion, given recent price fluctuations. Chen faced sanctions from the US and UK, was arrested in Cambodia, extradited to China, and had his Cambodian citizenship revoked.
(Source：Crypto Briefing)