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DOJ Seizes $15 Billion In Bitcoin From Massive ‘Pig Butchering’ Scam Based In Cambodia


The U.S. Department of Justice seized about $15 billion in bitcoin from wallets tied to Chen Zhi, founder of Cambodia’s Prince Holding Group, who is accused of running one of the world’s biggest “pig butchering” scams. Prosecutors say Zhi’s network trafficked people into forced-labor scam compounds that defrauded victims worldwide through fake crypto investment schemes. CNBC reports: The seizure is the largest forfeiture action by the DOJ in history. An indictment charging…



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by Slashdot

An anonymous reader quotes a report from Reuters: Privacy activists say proposed changes to Europe’s landmark privacy law, including making it easier for Big Tech to harvest Europeans’ personal data for AI training, would flout EU case law and gut the legislation. The changes proposed by the European Commission are part of a drive to simplify a slew of laws adopted in recent years on technology, environmental and financial issues which have in turn faced pushback from… Source link

by Slashdot

The European Commission is considering turning its non-binding 2020 guidance on “high-risk vendors” into a legal requirement that would effectively force EU member states to phase out Huawei and ZTE from mobile and fixed-line networks. Bloomberg reports: Commission Vice President Henna Virkkunen wants to convert the European Commission’s 2020 recommendation to stop using high-risk vendors in mobile networks into a legal requirement, according to the people, who asked not… Source link

by Slashdot

An anonymous reader quotes a report from Gizmodo: It appears that Neom — Saudi Arabia’s hugely expensive, architecturally bizarre urban development project — is floundering and close to collapse. A new report from the Financial Times cites high-level sources within the project to paint a picture of dysfunction and failure at the heart of the quixotic effort. Neom was envisioned as a vast series of fantastical urban developments spread across the coast of the Red Sea. At… Source link