The US Department of Justice has seized 127,195 Bitcoin (BTC) linked to Chen Zhi, the alleged operator of a massive “pig butchering” scam based in 0 value of the seized Bitcoin—around $15 billion—marks the largest forfeiture action in the DOJ’s history, underscoring the scale of global crypto-related financial crimes and the US government’s growing role in tracking and recovering digital 1 indictment against Chen Zhi was unsealed this week in federal court in Brooklyn, New York, revealing details of a complex international fraud operation that targeted thousands of victims worldwide through sophisticated investment 2 allege that Chen and his associates laundered billions in stolen funds through cryptocurrency exchanges and shell companies before the assets were traced and 3 latest seizure adds to the already significant Bitcoin reserves held by the US government from past enforcement actions, including those tied to the Silk Road, Bitfinex hack, and other major 4 total, US holdings now exceed 316,000 BTC, valued at nearly $36 billion at current prices, making the government one of the largest Bitcoin holders 5 Government’s Bitcoin Holdings Grow After Historic Seizure CryptoQuant reports that the US government now controls 316,760 BTC, worth roughly $35.9 billion, following its latest seizure from Chen Zhi’s “pig butchering” 6 127,195 BTC confiscated in this case alone—currently valued at $13.2 billion—marks the largest single Bitcoin seizure ever conducted by the Department of 7 Bitcoin’s peak earlier this year, those same holdings were worth around $15.5 8 operation cements the US as one of the largest known Bitcoin holders, with its wallet comprising assets from several major law enforcement actions over the past 9 most significant components include: Bitfinex Hack (2016) — Law enforcement recovered 106,910 BTC stolen from the crypto exchange after a multi-year 10 funds were linked to Ilya Lichtenstein and Heather Morgan, who laundered billions before being arrested in 11 Road (2013) — The government confiscated 81,988 BTC from the dark web marketplace operated by Ross 12 remains one of the earliest and most famous crypto 13 (2022) — A smaller seizure of 667 BTC connected to Estonian nationals accused of running a $575 million crypto fraud through shell mining services.
Together, these seizures highlight how the US has quietly become a major Bitcoin whale—a position gained not through investment, but through relentless enforcement and asset recovery in the digital 14 Holds Support But Faces Resistance Ahead Bitcoin (BTC) is trading around $111,142, showing signs of stabilization after last week’s flash crash that briefly sent prices below $104,000. The 12-hour chart reveals that BTC has found temporary support near the $110,000 zone, which has acted as a key demand area multiple times since 15 range now serves as a battleground between cautious buyers and sellers capitalizing on market weakness. However, BTC remains below the 50-day (blue) and 100-day (green) moving averages, both currently converging around $114,000–$116,000, creating strong short-term 16 200-day (red) moving average sits near $112,000, slightly above current levels, signaling that the broader trend is still fragile.
A clean break above these levels could open the path toward $117,500, but failure to regain momentum may expose BTC to another test of $108,000–$110,000. Trading volumes remain elevated but slightly cooling compared to last Friday’s capitulation event, suggesting consolidation rather than panic. Overall, Bitcoin appears to be in a recovery phase, though the lack of directional conviction indicates that traders are waiting for stronger catalysts — whether from macro data, ETF flows, or on-chain signals — before taking decisive 17 image from ChatGPT, chart from 18
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