A Major Verdict in Crypto Crime: The Case of Jingliang Su
The cryptocurrency industry continues to face challenges, including the rising threat of scams and fraudulent schemes. Recently, a US federal court sentenced Jingliang Su, a 45-year-old Chinese national, to 46 months in prison for his involvement in laundering over $36.9 million tied to a crypto investment scam. This case signifies a milestone in the US government’s heightened efforts to combat crypto-related crimes.
Inside the Fraudulent Scheme
According to the US Attorney’s Office for the Central District of California, Su operated as part of an international criminal network focused on targeting unsuspecting victims. The scam defrauded 174 individuals in the United States through a fake digital asset investment scheme. Commonly leveraging social media, text messages, and even online dating platforms, the group used deceptive tactics to contact victims, gain trust, and promote fraudulent investment opportunities.
The perpetrators created fake cryptocurrency trading websites designed to mimic legitimate platforms. Victims were duped into transferring their funds to fraudulent accounts with promises of high returns. Instead, the stolen funds were laundered through a sophisticated infrastructure that transferred victim assets to international accounts.
The Money Trail: Laundering Process Unveiled
Authorities revealed that the stolen funds, initially deposited into US bank accounts controlled by the group, were moved to an account at Deltec Bank in the Bahamas. These funds were converted into Tether (USDT), a prominent stablecoin, and further distributed to digital wallets in Cambodia. From there, the money was redistributed to various scam operations across the region, making it harder to trace.
The Consequences and Sentencing
Su, who had been in federal custody since December 2024, pleaded guilty in June 2025 to one count of conspiracy to operate an illegal money transmitting business. In addition to his prison sentence, the court ordered Su to pay over $26 million in restitution to his victims. The case also saw eight co-conspirators pleading guilty, with two key members, Jose Somarriba and ShengSheng He, receiving prison sentences of 36 and 51 months, respectively.
“Pig Butchering” Scams on the Rise
This case reflects the growing prevalence of “pig butchering” scams—a long-con fraud strategy where scammers patiently build relationships with victims before financially exploiting them. Notably, US prosecutors previously charged Cambodian national Chen Zhi with orchestrating forced labor crypto scams of a similar nature, stealing billions globally.
The blockchain analytics firm Chainalysis reports that such scams and other high-yield investment programs (HYIPs) accounted for $17 billion in losses across the cryptocurrency sector in 2025. This highlights the urgent need for continued vigilance and regulatory measures to prevent further victimization.
Protect Yourself From Scams
The rise of sophisticated scams within the cryptocurrency industry requires individuals to exercise caution. Always verify the legitimacy of investment opportunities, avoid unsolicited messages, and use trusted platforms for crypto trading. For secure storage of your digital assets, consider a reliable hardware wallet such as the Ledger Nano X, which offers advanced security measures to safeguard your funds.
As the crypto market continues to evolve, being informed and cautious can protect you from becoming a victim of these schemes. Always stay updated on industry trends and follow trusted news sources for reliable information.
