U.S. Seized $15B in Bitcoin Now Down $6B in Value

Victims await outcome of ongoing Prince Group fraud and forfeiture litigation as seized assets remain frozen.

Published on Feb. 11, 2026

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The U.S. government seized 127,271 Bitcoin worth around $15 billion from the Prince Group in October 2025 as part of a fraud and money laundering case. However, with Bitcoin's price falling from $115,000 to $70,000 per coin, the value of the seized assets has declined by approximately $6 billion. The Bitcoin remains frozen in government custody pending the resolution of the criminal and civil forfeiture proceedings against the Prince Group's chairman, Chen Zhi. Victims are concerned about the impact of the prolonged litigation and market volatility on their potential recovery.

Why it matters

This case highlights the challenges victims face when the government seizes digital assets as part of a fraud investigation. While civil asset forfeiture can be an important law enforcement tool, the process can be slow and complex, leaving victims exposed to market fluctuations and uncertain about the ultimate disposition of the seized funds. The Biden administration's creation of a U.S. Strategic Bitcoin Reserve was intended to address this issue, but the Prince Group case remains unresolved, leaving victims in limbo.

The details

In October 2025, the U.S. Department of Justice unsealed an indictment charging Chen Zhi, the chairman of the Cambodia-based Prince Holding Group, with wire fraud and money laundering. Prosecutors allege that Chen Zhi operated forced-labor scam compounds that carried out large-scale 'pig butchering' cryptocurrency fraud schemes, defrauding victims in the U.S. and worldwide out of billions of dollars. As part of the case, the government seized 127,271 Bitcoin worth around $15 billion at the time. However, with Bitcoin's price falling from $115,000 to $70,000 per coin, the value of the seized assets has declined by approximately $6 billion.

  • On October 14, 2025, the U.S. Department of Justice unsealed an indictment charging Chen Zhi and seized 127,271 Bitcoin.
  • As of February 11, 2026, Bitcoin's market price has fallen to roughly $70,000 per coin, reducing the value of the seized assets by approximately $6 billion.

The players

Chen Zhi

The chairman of the Cambodia-based Prince Holding Group, who was charged with wire fraud and money laundering for allegedly operating forced-labor scam compounds that carried out large-scale 'pig butchering' cryptocurrency fraud schemes.

U.S. Department of Justice

The federal agency that unsealed the indictment against Chen Zhi and seized the 127,271 Bitcoin as part of the case.

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What they’re saying

“When billions in seized Bitcoin sit frozen for years, victims absorb the risk. In volatile markets, justice delayed isn't just inconvenient — it's justice denied.”

— Marc D. Fitapelli, Attorney

What’s next

The Bitcoin at issue is currently in U.S. government custody pending resolution of the criminal and civil forfeiture proceedings against Chen Zhi. If the forfeiture is upheld, federal law provides mechanisms for restitution or remission to identifiable victims, but the process can be complex and slow.

The takeaway

This case highlights the challenges victims face when the government seizes digital assets as part of a fraud investigation. While civil asset forfeiture can be an important law enforcement tool, the process can leave victims exposed to market fluctuations and uncertain about the ultimate disposition of the seized funds, potentially denying them justice.