A Chinese dual citizen, Daren Li, has pleaded guilty to laundering $73 million stolen through crypto scams. From August 2021 to April 2022, Li orchestrated a scheme using shell companies to disguise the origins of the funds. Victims' money was funneled into U.S.-based bank accounts, converted into Tether (USDT), and distributed to wallets controlled by Li and his associates. Arrested in April, Li now faces a potential 20-year prison sentence, with a hearing set for March 2025. Prosecutors suggest he may also need to pay restitution, possibly up to $73 million.