TLDR:

Chinese Jingliang Su laundered $36.9M stolen from 174 Americans via shell firms and crypto wallets. 
Funds were converted into USDT at Deltec Bank and routed to Cambodia scam centers. 
Victims were deceived through dating apps, social media, and fake crypto platforms. 
DOJ ordered $26.9M restitution as part of a wider crackdown on global scam networks.

 

A US federal court has sentenced Chinese national Jingliang Su to 46 months in prison for laundering more than $36.9 million linked to a cryptocurrency investment scam that defrauded 174 Americans. 

According to the Department of Justice, the scheme relied on fake trading platforms, social engineering tactics, and the stablecoin USDT to move funds to scam centers operating in Cambodia.

How the $36.9M Crypto Scam Targeted US Victims

According to court documents, Jingliang Su played a central role in an international “pig butchering” cryptocurrency fraud. This scheme was designed to exploit American investors.

Overseas co-conspirators initially contacted victims through dating apps, social media platforms, unsolicited text messages, and phone calls. This enabled them to gradually build trust through prolonged online interactions.

Once rapport was established, victims were introduced to fraudulent digital asset investment opportunities hosted on fake websites. These allures were made to resemble legitimate cryptocurrency trading platforms. 

Platforms displayed fabricated account balances and profits, convincing victims that their investments were appreciating. In reality, the funds were being siphoned off almost immediately.

More than $36.9 million in victim funds were transferred from US bank accounts controlled by the conspirators into shell companies and international accounts. The money was eventually consolidated into a single account at Deltec Bank in the Bahamas. 

This allowed the network to efficiently manage and obscure the stolen funds. Federal investigators later identified 174 US victims impacted by the scheme.

USDT Laundering and DOJ’s Global Crackdown

From the Bahamas-based account, Su and other conspirators instructed the bank to convert the stolen funds into the stablecoin Tether (USDT). The USDT was then transferred to digital asset wallets controlled by scam operators in Cambodia.

Here, it was distributed to leaders of regional scam centers. Su pleaded guilty in June 2025 to an illegal money transmitting business and has remained in federal custody since December 2024. 

US District Judge R. Gary Klausner sentenced him to nearly four years in prison. On top he was ordered $26.87 million in restitution and imposed three years of supervised release.

Eight co-conspirators have pleaded guilty so far, with sentences ranging from 36 to 51 months. The DOJ emphasized that the sentencing reflects its broader effort to dismantle international scam centers.

Through seizing crypto-linked proceeds, and disrupting cross-border money laundering networks that exploit digital assets and stablecoins.

The post Chinese National Sentenced to 46 Months for Laundering $36.9M in Crypto Pig Butchering Scam appeared first on Blockonomi.

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Filed under: Bitcoin - @ January 31, 2026 8:17 pm