Two Chinese Nationals Face Charge in ‘Pig Butchering’ Crypto Scam

Published on May 20, 2024

Two Chinese nationals were charged in an alleged cryptocurrency scam that laundered more than $73 million, according to the U.S. Department of Justice (DOJ). The two suspects were identified as Daren Li, 41, a dual citizen of China and St. Kitts and Nevis, and Zhang Yicheng, 38, a citizen of China and a Temple City, California resident. According to a DOJ press release issued on May 17, Mr. Li was arrested at the Hartsfield-Jackson Atlanta International Airport on April 12, while Mr. Zhang was arrested in Los Angeles on May 16. “Cryptocurrency investment scams exploit the borderless nature of virtual currency and online communications to defraud victims,” Deputy Attorney General Lisa Monaco said in a statement....

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