A crypto scammer who is accused (alongside his co-conspirators) of stealing at least $73.6 million has been sentenced to “the statutory maximum of 20 years in prison and three years of supervised release for his role in an international cryptocurrency investment conspiracy carried out from scam centers in the Kingdom of Cambodia”.
42-year old Daren Li allegedly cut his ankle monitor off and fled in December 2025, and thus has been sentenced in absentia. This means he has been sentenced without being present. General A. Tysen Duva of the US Justice Department’s Criminal Division says it “will work with our law enforcement partners around the world to ensure that Li is returned to the United States to serve his full sentence.”
Li pled guilty in November, 2024, and before fleeing gave details on the methods he and his co-conspirators engaged in. According to the U.S Department of Justice:
“Li admitted that unindicted members of the conspiracy would contact victims directly through unsolicited social-media interactions, telephone calls and messages, and online dating services. The unindicted co-conspirators would gain the trust of victims by establishing either professional or romantic relationships with them, often communicating by electronic messages sent via end-to-end encrypted applications.
“These co-conspirators established spoofed domains and websites that resembled legitimate cryptocurrency trading platforms and promote fraudulent cryptocurrency investments to the victims after gaining the victims’ trust.”
(Image credit: BlackJack3D via Getty Images)
Some involved in the scam would claim to be from a customer service or tech support team, and would ask for payment in the form of cryptocurrency, which could then be laundered, according to the US DoJ.
Li reportedly admitted to at least $73.6 in stolen assets, at least $59.8 million of which has been allegedly laundered by U.S shell companies. So far, eight co-conspirators have pleaded guilty. Li is said to be the “first defendant to be sentenced who was directly involved in the ultimate receipt of victim funds.”
First Assistant U.S Attorney Bill Essayli for the Central District of California says , “While technology has made it possible for people to quickly communicate with others who live oceans away, it also has made it easier for criminals to prey on innocent victims.” He urges “the investing public to use caution and to not talk to strangers…especially ones who solicit money online.”
