TechFlow, October 19 — According to a report by Galaxy Research, the U.S. Department of Justice has completed the largest cryptocurrency seizure in history, confiscating 127,271 bitcoins (approximately $15 billion), increasing the U.S. government's holdings overnight by 64%.
The central figure in the case is Chen Zhi, chairman of Cambodia's太子Group, who is accused of laundering billions of dollars through online gambling, forced labor compounds, and "pig-butchering" scams, using his mining companies LuBian and Warp Data to transfer funds. The report indicates that the seized bitcoins perfectly match the private key leak incident of the infamous LuBian wallet "Milk Sad" in 2020, suggesting the so-called "hacking theft" may have been an internal operation.
With this seizure, the规模of the U.S. Treasury's "strategic bitcoin reserve" now stands at approximately 3.5% of the value of U.S. gold reserves (in dollar terms). Galaxy sarcastically remarked: "Bitcoin was born in rebellion against fiat currency, yet it has now become collateral for the fiat system."
