Pig Butchering, Phone Farms, and a $15 Billion Forfeiture—Key Takeaways from the Prince Group Cybercrime Indictment
Faegre Drinker – On October 14, 2025, the United States Attorney’s Office in the Eastern District of New York announced the indictment of a corporate executive of a Cambodian-based company for wire fraud and money laundering arising out of a near decade-long “pig butchering” cybercrime scheme, alongside a corresponding civil forfeiture action seeking approximately 12,271 bitcoin—worth approximately $15 billion—that are alleged to be proceeds and instrumentalities of the scheme.
