Daren Li

What the public record shows

Daren Li, 42, a dual national of China and St. Kitts and Nevis, was sentenced to 240 months (20 years) in federal prison for his role in an international cryptocurrency investment conspiracy run from scam centers in Cambodia. He pleaded guilty in November 2024 to conspiracy to commit money laundering. He became a fugitive after cutting off his electronic ankle monitor in December 2025. The conviction stands.

How a “pig butchering” scam works

This case is the textbook example of the fastest-growing investment fraud in the world:

• Scammers contact victims out of the blue — unsolicited texts, “wrong number” messages, social media, and dating apps.
• They build trust over weeks or months, forming a professional or romantic relationship (often over encrypted apps), before ever mentioning money.
• They then steer the victim into a fake crypto investment platform showing fake gains, encouraging bigger and bigger deposits.
• When the victim tries to withdraw, they’re hit with “taxes” or “fees” — and then the money, and the person, vanish.

Li admitted he and co-conspirators funneled at least $73.6 million in victim funds through bank accounts they controlled, including $59.8 million through U.S. shell companies used to launder the proceeds.

Why we rate this 1 / 10 — Avoid

A 20-year sentence for laundering the proceeds of a scam engine that has stolen billions worldwide. Anyone can be a target — these operations are industrialized.

How to protect yourself

• Unsolicited contact + crypto = stop. No legitimate opportunity arrives by wrong- number text or a new online romance.
• A platform showing steady gains you can see but can’t freely withdraw is a fake interface, not an account.
• Report scams to the FBI’s IC3 and the FTC.

Bottom line

Convicted and sentenced to 20 years — and still, the network he served keeps running. If someone you met online guides you to an investment app, it is a scam. Full stop.

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