Wu said that according to the announcement of the U.S. Department of Justice, Daren Li, a 41-year-old dual citizen of China and St. Kitts and Nevis, admitted to participating in a multi-million dollar cryptocurrency investment fraud money laundering conspiracy involving an amount of up to $73.6 million. Li and his accomplices transferred and laundered the funds obtained from the fraud through shell companies and international bank accounts, coordinated operations using encrypted communication tools, converted victims' funds into USDT and distributed them to wallets under their control. Li was arrested at Atlanta International Airport in April this year. The case was investigated by the Criminal Division of the U.S. Department of Justice in cooperation with multinational law enforcement agencies. He will be sentenced on March 3, 2025 and may face up to 20 years in prison.