Chinese Man Extradited to US for Cryptocurrency Scam
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Insights by Echo AI
A 44-year-old Chinese man, Zheng Zhao, has been extradited to the US from the Netherlands to face charges of participating in a cross-border cryptocurrency investment scam, also known as 'pig butchering'. The scam targeted 174 American victims, defrauding them of over $36.9 million. The money was transferred to a bank account in the Bahamas before being converted into USDT and sent to the Cambodia-based operation. Zheng Zhao faces up to 20 years in prison. Previously, eight co-conspirators have pleaded guilty.
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