A man sentenced to 20 years in prison for involvement in a $73 million cryptocurrency investment fraud case BlockBeats News: On February 10th, the US Department of Justice announced that Daren Li, a man with dual citizenship of China and Saint Kitts and Nevis, was sentenced in absentia to the maximum statutory sentence of 20 years in prison and 3 years of supervised release by the Federal Court for the Central District of California on February 9th for his involvement in a global cryptocurrency investment fraud case involving over $73 million. The Ministry of Justice stated that 42 year old Li had pleaded guilty in November 2024, admitting to participating in a cross-border cryptocurrency investment fraud and money laundering conspiracy operated from a Cambodian fraud park. But he fled after cutting off the electronic ankle in December 2025 and is still at large. The prosecutor disclosed that the fraud group actively contacted victims through social media, phone calls, text messages, and online dating platforms, established "professional or romantic relationships" to gain trust, and used forged encrypted trading platforms and phishing websites to induce victims to invest in false projects; In some cases, they even impersonate customer service or technical support personnel to lure victims into transferring funds or transferring encrypted assets under the pretext of "fixing viruses" and other reasons. According to the plea agreement, Li and his accomplices caused at least $73.6 million in victim financial losses, of which $59.8 million was whitewashed through US shell company accounts and further converted into cryptocurrency to conceal the source and flow of funds. Li was identified as directly involved in the final receipt and control of the victimized funds. Up to now, 8 accomplices have pleaded guilty, and Li is the first defendant to be sentenced for directly receiving stolen money. The case is being investigated by the United States Secret Service, with assistance from law enforcement agencies from multiple countries. The US Department of Justice stated that it will continue to promote international cooperation and strive to extradite Li back to the US to serve his sentence.