California Judge Hands Down 20-Year Sentence for Crypto Scammer Daren Li
A California federal judge has sentenced Daren Li to the maximum 20 years in prison for his role in a $73 million cryptocurrency investment scam. The sentence was handed down despite Li's absence, as he cut off his ankle monitor and disappeared in December 2025.
The case is part of a larger crackdown on 'pig butchering' operations that have been using Cambodia-based scams to target American victims through spoofed trading platforms.
Li pleaded guilty to conspiracy to commit money laundering tied to cryptocurrency fraud in November 2024. According to his plea agreement, co-conspirators in Cambodia contacted victims through social media, phone calls, and dating services, building trust before steering them to fake investment opportunities.
The group's operations were massive, with at least $73.6 million in victim funds flowing into accounts controlled by Li and his associates. Of that amount, around $59.8 million was laundered through U.S. shell companies set up for the purpose.