42-year-old Daren Li, a dual citizen of China and St. Kitts-Nevis, was sentenced to 20 years in prison for organizing a global cryptocurrency scam that stole more than 73 million dollars from victims in the United States. In the U.S. District Court for the Central District of California, Li received the legal maximum sentence and was also given 3 years of supervised release. According to the Department of Justice, Li and at least 8 accomplices built fake trading platform sites to gain victims’ trust and transferred funds to their own accounts through pig butchering or phishing scams.
Daren Li admitted he helped associates launder millions in funds stolen through various crypto scams. Source: CourtListener
The group, which deceived victims through relationships started on social media and dating apps, transferred 73.6 million dollars, laundering 59.8 million through U.S. shell companies. Li is the first convicted; 8 accomplices have pleaded guilty and are awaiting sentencing. The investigation continues under the leadership of the U.S. Secret Service, Homeland Security, and U.S. Marshals Service.
Pig Butchering Method in the Daren Li Case
Pig butchering scam is a cybercrime that builds trust over months through romantic relationships, then directs victims to fake investment platforms. Phishing provides wallet access through fake links. These methods trap investors with emotional and technical lures.
Source: CertiK
2026 Cryptocurrency Scam Statistics
- January total loss: 370 million dollars
- 311 million from phishing
- Li group: 73,6M USD stolen, 59,8M laundered
- 8 accomplices awaiting sentencing
Critical Support and Resistance Levels for ALT
While scam news increases market fear, coins like ALT are under pressure. Current data: Price $0.01 (+1.25% 24h), RSI 32.03 (downtrend), Supertrend bearish, EMA 20 $0.0096. Click for detailed ALT analysis.
- Supports: S1 $0.0069 (⭐ Strong, -14.92%), S2 $0.0080 (⭐ Strong, -1.36%)
- Resistances: R1 $0.0085 (⭐ Strong, +4.81%), R2 $0.0093 (⭐ Strong, +14.67%)
Evaluate risks with ALT futures.
Frequently Asked Questions About Cryptocurrency Scams
What is pig butchering? Long-term trust-building scam leading to fake investment traps.
How much money did Daren Li steal? 73.6 million USD, 59.8M laundered.
What is the 2026 scam trend? CertiK: 370M loss in January, phishing dominant.
Source: https://en.coinotag.com/daren-li-sentenced-to-20-years-in-prison-crypto-fraud
