A U.S. federal court has sentenced Daren Li, a key figure behind a massive international cryptocurrency scam, to 20 years in prison, along with three years of supervised release.
The case, linked to “pig butchering” fraud schemes, involved more than $73 million stolen from American victims.
Li, a dual citizen of China and St. Kitts and Nevis, remains a fugitive after escaping in December 2025 by removing his ankle monitoring device.
Li pleaded guilty in November 2024 to conspiracy to launder funds obtained through cryptocurrency scams. Prosecutors revealed that the scheme targeted victims using unsolicited social media messages, phone calls, online dating apps, and fake investment platforms.
Scammers built trust with victims through professional or romantic relationships, then persuaded them to invest money in fraudulent crypto platforms or send funds to fix fake technical problems.
Once the money was obtained, Li and his co-conspirators funneled funds through U.S. bank accounts and shell companies before converting them into cryptocurrency. At least $59.8 million of the stolen money passed through U.S.-based accounts. Li admitted that the total amount defrauded from victims reached $73.6 million.
Eight of Li’s co-conspirators have already pleaded guilty in related cases, but Li is the first defendant to be sentenced who was directly involved in receiving the stolen funds. The U.S. Department of Justice emphasized that the sentence reflects the serious impact of Li’s crimes, which caused devastating losses to victims nationwide.
Authorities highlighted the growing risks posed by technology, which allows scammers to communicate across oceans but also makes it easier to exploit unsuspecting victims. “I urge the investing public to use caution and avoid talking to strangers who solicit money online,” said First Assistant U.S. Attorney Bill Essayli.
Li’s sentencing is part of a larger effort by U.S. authorities to dismantle international scam centers. In recent years, the Criminal Division has secured convictions against more than 180 cybercriminals and obtained court orders for the return of over $350 million in victim funds.
The case also follows similar prosecutions, including the sentencing of Jingliang Su to 46 months in prison for laundering over $36.9 million through Cambodian scam centers.
The Justice Department continues to work with international partners to locate Li and ensure he serves his full sentence, while also disrupting global cryptocurrency fraud networks.
