Fugitive Daren Li was sentenced to 20 years in prison for a $73 million cryptocurrency scam.

Prison Sentence in California

A federal judge sentenced a fugitive scammer named Daren Li to 20 years in prison for organizing an international cryptocurrency investment scam worth 73 million dollars. Additionally, Li was given 3 years of supervised release.

Social Engineering Tactics

Prosecutors stated that Li and his accomplices used social engineering tactics to convince victims to send money to cryptocurrency platforms through fake romantic and professional relationships, along with deceptive technical support schemes.

The Role of Cambodia

This case underscores that Cambodia has become a hub for so-called pig butchering cryptocurrency scams. Furthermore, it demonstrates that social engineering fraud continues to be the biggest threat for cryptocurrency users, leading to billions of dollars in losses.