FBI Arrests Hundreds in Dubai–Cambodia Fraud Network, Seizes $8 Billion in Crypto

FBI agents sit in front of devices seized in anti-scam operations. (FBI)

WASHINGTON, May 29: The FBI has seized a record $8 billion in cryptocurrency and arrested hundreds of suspects as part of a sweeping international crackdown on cyber scam networks and organized crime groups operating across Asia, Africa, and the Middle East.

According to US authorities, the operation targeted so-called “scam compounds” that allegedly defrauded victims worldwide, including Americans who lost millions of dollars through sophisticated online investment and romance scams.

A major breakthrough came with the arrest of Chen Zhi, CEO of the Cambodia-based Prince Holding Group, during which the FBI confiscated more than 127,000 bitcoin. Officials described the seizure as the largest asset forfeiture in US government history, with the cryptocurrency valued at more than $8 billion and potentially exceeding $15 billion at the time it was seized.

The crackdown also targeted the Democratic Karen Benevolent Army (DKBA), an armed militia operating in Myanmar that US authorities say has ties to Chinese organized crime networks and large-scale online fraud operations. The group has been designated a transnational criminal organization and is under US sanctions.

FBI Director Kash Patel said scam compounds have evolved into sophisticated criminal enterprises that steal money, launder proceeds, and exploit victims on a global scale.

“The FBI has been leading the charge, from taking down Prince Group in Cambodia to Operation Sand Dollar in Dubai,” Patel said. “We helped free nearly 2,000 trafficked workers, shut down more than $8 billion in scam center fraud, and arrested nearly 300 people.”

Authorities said operations in Thailand resulted in the seizure of thousands of smartphones and other equipment used in fraudulent activities. In Dubai, joint operations between local police and the FBI led to the arrest of 275 suspects, six of whom are expected to be extradited to the United States to face federal charges.

The FBI said investigations remain ongoing, with additional scam centers linked to organized crime networks still being targeted worldwide.