ExchangeDEX+
Buy CryptoMarketsSpotFuturesGOLDEarnEvents
More
The post 174 Americans Hit in $36.9M Crypto Scam as DOJ Hands Prison Sentence appeared first on Coinpedia Fintech News A U.S. court sentenced Jingliang Su, a 45The post 174 Americans Hit in $36.9M Crypto Scam as DOJ Hands Prison Sentence appeared first on Coinpedia Fintech News A U.S. court sentenced Jingliang Su, a 45

174 Americans Hit in $36.9M Crypto Scam as DOJ Hands Prison Sentence

Author: CoinstatsSource: Coinstats
2026/01/31 19:57
Crypto Trader Loses $35.9M as Crypto Bloodbath Wipes Out Profits

The post 174 Americans Hit in $36.9M Crypto Scam as DOJ Hands Prison Sentence appeared first on Coinpedia Fintech News

A U.S. court sentenced Jingliang Su, a 45-year-old Chinese national, to 46 months in federal prison for laundering more than $36.9 million from a crypto investment scam. The scheme, run from Cambodia, targeted 174 Americans.

U.S. District Judge R. Gary Klausner also ordered Su to pay $26.8 million in restitution. Su pleaded guilty in June 2025 to conspiracy to operate an illegal money transmitting business. He has been in federal custody since December 2024.

How the Scam Worked

The scam started on social media, dating apps, phone calls, and text messages. Co-conspirators reached out to victims and spent time building trust before pitching fake crypto investment opportunities.

They set up websites that looked like real trading platforms. Victims deposited funds and saw fake profits on their screens. In reality, the money was already gone.

From there, Su and others moved victim funds through U.S. shell companies to an account at Deltec Bank in the Bahamas. The funds were then converted to USDT and sent to digital wallets in Cambodia, where scam center operators collected the money.

Eight Others Plead Guilty

Su was not working alone. Eight co-conspirators have pleaded guilty so far. ShengSheng He received 51 months in prison. Jose Somarriba got 36 months. Both faced the same conspiracy charge as Su.

DOJ Continues Crypto Fraud Crackdown

The case is part of the Department of Justice’s ongoing push against international scam networks. Since 2020, the DOJ’s Computer Crime and Intellectual Property Section has convicted over 180 cybercriminals and returned more than $350 million to victims.

The U.S. Secret Service, Homeland Security Investigations, and the Dominican National Police assisted in the investigation.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

United States Building Permits Change dipped from previous -2.8% to -3.7% in August

United States Building Permits Change dipped from previous -2.8% to -3.7% in August

The post United States Building Permits Change dipped from previous -2.8% to -3.7% in August appeared on BitcoinEthereumNews.com. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended…
Share
BitcoinEthereumNews2025/09/18 02:20
XRP Tests Structure, Not Collapse, as Fibonacci History Repeats

XRP Tests Structure, Not Collapse, as Fibonacci History Repeats

XRP is trading near $1.7 on the monthly timeframe, where price is interacting with a structurally important zone defined by long-term cycle behavior rather than
Share
Ethnews2026/01/31 22:46
Trump resents being forced to say he's sorry

Trump resents being forced to say he's sorry

Independent journalist Don Lemon was arrested this morning. So was Georgia Fort, also an independent journalist. Both covered a January 18 church protest in Minneapolis
Share
Alternet2026/01/31 21:52