Attorney Chen Zhi filed a motion in a U.S. court to dismiss the government's seizure of his Bitcoin.

Chen Zhi's lawyers recently filed a motion in a New York federal court to dismiss the U.S. government's seizure of a batch of Bitcoins related to him. The lawyers stated that the prosecution's claim that Chen Zhi oversaw a fraud park lacked concrete evidence and was merely a general description of the situation in Cambodia; they also questioned the timeline of the cryptocurrency seizure, arguing that the Bitcoins could not have originated from fraud or money laundering. The U.S. Department of Justice announced the seizure of 127,271 Bitcoins controlled by Chen Zhi last October, at the time valued at approximately $15 billion. In January of this year, Chen Zhi was stripped of his Cambodian citizenship and extradited to China. Following sanctions imposed by the U.S. and UK, Singapore, Hong Kong, Taiwan, and South Korea have collectively frozen or seized over $1 billion in related assets.