Jingliang Su Sentenced to 46 Months for $36.9 Million Crypto Scam

Summary: Jingliang Su, a Chinese national, has received a 46-month prison sentence for orchestrating a large-scale crypto scam involving $36.9 million. This Ponzi-like scheme targeted 174 victims in the U.S. and utilized fake trading platforms to deceive individuals. The case highlights ongoing efforts by U.S. authorities to combat digital asset fraud.

Key Takeaways

Sentencing: Jingliang Su has been sentenced to 46 months in prison for laundering $36.9 million from a crypto scam.
Type of Scam: The scheme was based on a method known as "pig butchering," which combines emotional manipulation with financial deception.
Victims Impacted: 174 individuals from the U.S. fell victim to this fraudulent operation.
Law Enforcement Response: U.S. authorities are intensifying their fight against crypto scams and fraud rings.
Market Context: The crypto market remains strong, with Bitcoin, Ethereum, and Tether maintaining significant valuations.

USDT pig butchering case jails Jingliang Su for $36.9M scam

How the Laundering Scheme Operated

According to the U.S. Attorney’s Office for the Central District of California, Su was connected to an international network that exploited fake trading platforms along with social engineering tactics to deceive victims into losing their money. Scammers reached out to targets through unsolicited messages on social media, phone calls, texts, and online dating applications, luring them into fraudulent “high-yield” cryptocurrency opportunities.

Victims were then directed to websites that closely resembled legitimate exchanges, showcasing fabricated profits while, in reality, their funds were being siphoned off. First Assistant U.S. Attorney Bill Essayli highlighted the allure of such digital pitches, warning, “New investment opportunities might seem appealing, but they often attract criminals who have stolen and laundered millions from unsuspecting individuals.”

Authorities estimate that over $36.9 million was transferred from U.S. bank accounts into a single account at Deltec Bank located in the Bahamas. These funds were converted into Tether (USDT) and sent to wallets in Cambodia, where co-conspirators distributed the money to regional scams. Since December 2024, Su has been in federal custody and pleaded guilty in June 2025 to conspiracy related to illegal money transmission. He was also ordered to pay more than $26 million in restitution. Eight co-defendants, including Jose Somarriba and ShengSheng He, have also pleaded guilty, receiving sentences of 36 months and 51 months respectively.

Understanding Pig Butchering and a Wider Crackdown

Investigators explain that this case mirrors what is known as "pig butchering," a long-standing con method where scammers build a relationship with their targets before ultimately draining them financially. U.S. authorities have previously charged Cambodian tycoon Chen Zhi in a separate case that involved forced-labor operations tied to similar scams, which allegedly stole billions globally. According to blockchain analytics company Chainalysis, high-yield investment schemes and pig butchering have remained the most common types of scams, with crypto-related fraud and theft causing over $17 billion in losses in 2025 alone.

Current Market Overview: Bitcoin, Ethereum, Tether

Su's sentencing comes amid an active and resilient crypto market. Bitcoin is trading at approximately $89,127.74 with a trading volume of about $38.64 billion in the past 24 hours. Ethereum is valued around $3,008.32, showing a 2.5% increase day-over-day, accompanied by a trading volume exceeding $29.3 billion. Tether, which played a role in Su’s money laundering activities, is maintaining its peg at around $1.00, backed by a market capitalization of over $186 billion.