U.S. and U.K. authorities seized $15 billion in Bitcoin from a massive "pig butchering" scam network led by Chinese national Chen Zhi, involving forced labor in Cambodia and emotional manipulation via social media. This record forfeiture boosts U.S. holdings to $36 billion and highlights crypto vulnerabilities, prompting calls for stricter regulations.
On October 10, 2025, the crypto market suffered a record $19 billion in liquidations, wiping out $380 billion in value, triggered by Trump's tariffs on China and Binance glitches. Bitcoin plunged $20,000, decimating leveraged positions. Institutions drove a swift recovery, highlighting leverage risks and the need for better oversight.
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