A US federal court has sentenced Daren Li, a dual national of China and St. Kitts and Nevis, to 20 years in prison for leading a global cryptocurrency fraud that stole more than $73 million from victims. The sentence, handed down in California, represents the statutory maximum and includes three years of supervised release, according to the US Department of Justice.
Prosecutors said Li coordinated a network that used spoofed websites mimicking legitimate trading platforms to carry out so-called pig butchering scams. Victims were approached through social media and dating applications, where trust was built over time before they were persuaded to transfer funds to accounts controlled by the group.
Authorities said Li and his co-conspirators laundered at least $73.6 million, including nearly $60 million routed through US shell companies. The case underscores heightened law enforcement scrutiny as crypto-related fraud resurges amid broader retail adoption.
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