U.S. DOJ Seizes 127,271 BTC from Taizi Group Chairman in Fraud Case

2025-11-05 19:47

The U.S. Department of Justice has seized 127,271 Bitcoin from Chen Zhi, chairman of Taizi Group, as part of a civil forfeiture lawsuit filed on October 14, 2025. The action is linked to allegations of telecom fraud and money laundering. The Bitcoin, previously held in non-custodial wallets under Chen's control, was seized through legal custody and access transfer, not through any cryptographic breakthrough. This seizure is part of a coordinated sanctions effort by the U.S. Treasury and the U.K. government. The DOJ emphasized that the seizure did not involve breaking Bitcoin's ECDSA algorithm, which remains secure against current technological capabilities.

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