Quick Breakdown:
- Jingliang Su, 45, was sentenced to 46 months in a US federal prison for conspiracy to commit unlicensed money transmission tied to $36.9 million in crypto fraud.
- The scheme hit 174 US victims via texts, calls, and dating apps; funds were laundered through shell firms, a Bahamas bank, and into USDT sent to Cambodia.
- Su must pay $26.8 million in restitution; highlights US push against international “pig butchering” scams exploiting crypto’s speed.
A US federal judge in Los Angeles handed down a 46-month prison sentence to Jingliang Su, a 45-year-old Chinese national, on January 27, 2026, for his key role in laundering $36.9 million stolen through cryptocurrency investment scams. Su, in custody since December 2024, pleaded guilty in June 2025 to one count of conspiracy to operate an illegal money transmitting business. The scheme targeted 174 Americans, using unsolicited social media messages, phone calls, texts, and online dating platforms to build trust before directing victims to fake trading sites. Judge R. Gary Klausner also ordered Su to pay $26.8 million in restitution to the victims. This case underscores escalating US efforts to dismantle cross-border crypto fraud networks.
Chinese National Sentenced to Prison for Role in Crypto Scam Targeting Americans
🔗: https://t.co/TchsvXf76p pic.twitter.com/2HT8tu5G0q
— Criminal Division (@DOJCrimDiv) January 27, 2026
How the scam worked.
Su and his international crew posed as legit investment advisors. Victims saw fake dashboards showing profits, prompting more deposits totalling $36.9 million. Funds flowed through US shell companies and Deltec Bank in the Bahamas, where cash was converted to Tether (USDT).
Accomplices in Cambodia then split the proceeds to fuel regional scam hubs. Prosecutors called it a classic “pig butchering” tactic, where scammers fatten trust before slaughtering savings. Su’s plea detailed 174 victims, many losing life savings in this digital con. This mirrors patterns in Southeast Asian operations, where crypto enables rapid, borderless laundering.
Ties to wider crypto fraud trends.
Crypto scams thrive on blockchain’s anonymity, but US authorities now trace flows via analytics. Assistant Attorney General A. Tysen Duva stressed: “Criminals weaponize the internet for fraud.” DeFi Planet has tracked similar cases, like a Colorado firm linked to an $8.4 billion Chinese-language crypto marketplace aiding Southeast Asian scams.
That operation funnelled illicit funds through fake platforms, much as Su’s network did. Rising on-chain scrutiny and tools like wallet trackers help, yet fraud persists amid crypto’s $20 billion annual revenue boom from DeFi and apps. Victims often recover little, pushing calls for better exchange safeguards.
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