Crypto Scam Ring Leader Sentenced to 20 Years in U.S. Court
Daren Li, a dual citizen of China and St. Kitts and Nevis, has been sentenced to 20 years in prison for orchestrating a $73 million cryptocurrency scam targeting U.S. investors. The scheme, which operated through fake crypto websites and investment platforms, relied on social engineering tactics to defraud victims.
Li's network contacted victims via social media, phone calls, and dating apps, posing as professionals or romantic partners. Communications were conducted through encrypted messaging apps to evade detection. Victims were lured into transferring funds for nonexistent investments or deceived into granting access under false technical support pretenses.
Since December 2025, Li had been a fugitive after removing his ankle monitor. The case highlights ongoing challenges in combating cross-border crypto fraud despite increased regulatory scrutiny.
