The United States on Tuesday announced that it is seeking the forfeiture of 127,271 Bitcoin, currently worth over $14.2 billion, in the largest such forfeiture action in the history of the Department of Justice.

The United States Attorney's Office for the Eastern District of New York and the Department's National Security Division filed the civil forfeiture complaint against Chen Zhi, the founder and chairman of Prince Holding Group, a multinational business conglomerate based in Cambodia.

Feds alleged on Tuesday that Zhi ran a "pig butchering" scams that stole billions of dollars from victims in the United States and around the world.

Editor's note: This is a breaking news story and will be updated. 

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