Courtroom scene depicting sentencing for a $37 million cryptocurrency fraud scheme involving USDT and shell companies.
Blockchain News

Crypto Scam Exposed: Chinese National Gets 46 Months for $37M Fraud Targeting Americans

United States, May 2025: In a significant legal development highlighting the global crackdown on cryptocurrency fraud, Chinese national Jingliang Xu has been sentenced to 46 months in federal prison for masterminding a sophisticated $37 million crypto scam that specifically targeted U.S. citizens. The sentencing, first reported by Decrypt, marks a decisive victory for U.S. authorities […]