California Man Gets 20 Years in $36.9M Crypto Scam Linked to Notorious Huione Group

Another day, another crypto scam—only this one’s got a $36.9 million price tag and ties to one of the industry’s most infamous groups.

The Scheme Unpacked

A California man just landed a 20-year sentence for masterminding a elaborate crypto fraud operation connected to the Huione Group. The group’s reputation? Let’s just say it’s not their first rodeo.

How It Went Down

Promises of sky-high returns lured investors in—classic move. Fake platforms, forged documents, and a well-rehearsed team kept the scheme rolling until it inevitably collapsed. The $36.9 million? Gone. Poof.

Another Black Eye—Or Just Tuesday?

While regulators scramble to play whack-a-mole, the Huione Group keeps finding new ways to separate optimistic investors from their cash. Some things in crypto never change—especially the appetite for a “too good to be true” story.