The suspected kingpin of one of the world's largest online scam and slave-labor operations has been captured, authorities said. Chen Zhi, 38, was arrested in Cambodia and extradited to China this week,

Bitcoin billionaire Chen Zhi has been arrested in Asia over a massive $11 billion "pig butchering" crypto scam.

Chen Zhi faces an indictment in federal court in Brooklyn on charges of swindling millions of dollars from Americans as part of a global cryptocurrency scam.

According to the FBI, scammers caused nearly $250 million in losses in 2024, and from January through November 2025, that figure rose to $333 million.

If you’ve already sent money, stop sending more and report it immediately to the FTC or the FBI. You should also notify your crypto exchange. While recovery is rare, exchanges can sometimes flag suspicious wallets or freeze assets before they’re laundered.

Crypto phishing losses tied to wallet drainers fell 83% in 2025 to $83.85M, but Scam Sniffer warns attackers remain active and adapt to market cycles.