The U.S. Department of Justice (DOJ) has revealed that Daren Li has pleaded guilty to allegations of money laundering, related to over $73 million from cryptocurrency investment scams. Li, aged 41, holds citizenship in both China and St. Kitts and Nevis.

Li conducted his laundering operations by utilizing a complex system of shell companies, international bank accounts, and cryptocurrencies. The DOJ’s announcement is part of broader efforts to crack down on fraudulent activities within the crypto domain.

This enforcement action highlights the ongoing challenges and proactive measures being taken by authorities in addressing scams and fraudulent schemes involving digital currencies.