I’m a victim of a brutal crypto investment scam that stole millions from people like me, and now I finally see one of the masterminds facing justice.
A U.S. federal court sentenced Daren Li to 20 years in prison for orchestrating a $73 million global fraud and money-laundering operation. But here’s the outrageous part — he’s still a fugitive. He cut off his electronic monitoring device and ran, and the judge had to sentence him in absentia.
As one of the American victims targeted in this scheme, I was manipulated through social media and online platforms. The people working under Daren Li didn’t just ask for money. They built trust. They reached out with friendly messages, pretended to care, created fake relationships, and slowly pulled us into what looked like legitimate cryptocurrency trading opportunities.
They pushed us onto counterfeit crypto trading websites — slick, professional-looking platforms designed to deceive. Some of their accomplices even posed as tech support agents to “help” us move funds. It was all a calculated trap known as “pig butchering” — fattening up victims emotionally before financially slaughtering them.
At least $73.6 million from victims like me was funneled into accounts controlled by this ring. Nearly $60 million was routed through U.S. shell companies before being converted into cryptocurrency and laundered. This wasn’t random fraud — it was organized, industrial-scale theft.
Daren Li, a dual national of China and St. Kitts and Nevis, pleaded guilty in November 2024 to conspiracy to commit money laundering tied to crypto investment fraud. He became the first person in the case to be sentenced, even though eight of his co-conspirators have already pleaded guilty.
The court also imposed a three-year supervised release term, but that means nothing while he’s on the run.
Experts say operations like the one Daren Li ran out of Cambodia are now among the largest organized cybercrime industries in the world. They rival or even exceed drug trafficking and ransomware in total revenue. These scam centers generate continuous cash flow, target victims globally, and operate with repeatable social-engineering playbooks. Cryptocurrency only makes it easier for them — allowing rapid movement, layering, and consolidation of stolen funds.
Interpol has now formally labeled these scam compounds as a transnational criminal threat, impacting victims in more than 60 countries. The scale is staggering.
Meanwhile, in Southeast Asia, authorities are cracking down. In Myanmar, members of the Ming clan behind scam compounds tied to over $1.4 billion in fraud and at least 14 deaths were executed. Five members of the rival Bai family were also sentenced to death for operating dozens of scam centers.
But for victims like me, the damage is already done. We were targeted, manipulated, and drained by a sophisticated criminal network led by Daren Li. And while a 20-year sentence is a step toward justice, the fact that he’s still a fugitive is a bitter reminder of how ruthless and brazen these operations truly are.