Crypto Conmen Caught: 5 Plead Guilty in $37M Scam-a-palooza!
Eight co-conspirators pleaded guilty in an international crime ring that laundered nearly $37 million through cryptocurrency scams, aka pig butchering. This elaborate scheme involved catfishing and digital deception, proving that when it comes to scams, these guys brought home the bacon—and the FBI.
Hot Take:
Who knew pig butchering could be so lucrative outside of a BBQ? These cyber swindlers really hammed it up, leaving victims with more than just a side of heartbreak and empty pockets. If only they had invested as much creativity into honest work as they did in international crime, they might’ve been the next tech billionaires… legally!
Key Points:
- Five men from China, the U.S., and Turkey pleaded guilty to laundering nearly $37 million stolen from U.S. victims.
- The scam involved fraudulent cryptocurrency investment schemes originating from Cambodia.
- Victims were contacted via unsolicited social media, phone calls, and dating services.
- $36.9 million was transferred to Deltec Bank in the Bahamas under the guise of Axis Digital Limited.
- Eight co-conspirators have pleaded guilty in total, with maximum penalties reaching up to 20 years in prison.
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