I would like to share an important warning and lesson for my friends who are investing in crypto with big dreams.
The topic I want to talk about today is the leader of a crypto scam known as “Pig Butchering,” which defrauded investors worldwide of more than $73 million. A U.S. court has sentenced him to 20 years in prison.
🚨 What Is “Pig Butchering” and Why Is It So Dangerous?
There is a reason this scam is called “Pig Butchering.” Just like a pig is fattened up with food before being slaughtered, scammers first build trust with their victims. Once the victim fully trusts them, they take everything.
A 42-year-old criminal named Daren Li used this method to destroy many lives. The way he carried out the scam is very similar to methods currently spreading in Myanmar, so please pay close attention.
1. Building Trust (The Grooming)
They start by connecting through social media or dating apps. After building a friendly relationship, they pretend to be highly successful in crypto trading and claim they are making large profits.
2. Using Fake Platforms (The Trap)
They then introduce fake websites or apps that look like famous trading platforms. At first, the platforms show fake profits and attractive charts to gain the victim’s trust.
3. Draining the Money (The Slaughter)
Once the victim invests a large amount of money, withdrawals suddenly become impossible. The scammers may demand additional payments for “taxes” or “fees.” Eventually, they cut off contact and disappear.
Daren Li laundered $73.6 million through shell companies using this method.
⚖️ No One Can Escape the Law
In December 2025, he even attempted to escape by cutting off his electronic ankle monitor. However, justice caught up with him. The U.S. Department of Justice (DOJ) sentenced him to the maximum penalty of 20 years in prison. This serves as a serious warning to crypto scammers worldwide.
Eight of his accomplices have also pleaded guilty and will soon receive their sentences.
📉 Early 2026 Situation – Are Scams Rising Again?
The beginning of 2026 has been a concerning period for the crypto community. According to CertiK data, losses from scams in January alone reached $370 million.
This was the highest monthly loss in 11 months, mainly due to phishing and social engineering attacks. In one extreme case, a single individual lost $284 million.
💡 The Message I Want to Share
To protect your hard-earned money, please remember these key points:
Don’t Trust Easily
If someone you’ve never met in person contacts you through a dating app or social media and starts talking about investment opportunities, assume it is 99% a scam.
Verify the Platform
Never download apps or deposit money through unknown links. Only use official and well-known exchanges such as Binance or OKX.
Beware of Unrealistic Promises
Promises of guaranteed 30% or 50% monthly returns are traps. In crypto, there is no reward without risk.
Strengthen Your Security
Always enable 2FA (Two-Factor Authentication).
Use passkeys when available.
Change your password regularly.
Never share your private keys with anyone.
Crypto is a field full of opportunities, but scammers like Daren Li understand human weaknesses even better than we do. They watch constantly and wait for moments of greed or carelessness.
Do not chase greed—chase knowledge.
Only by protecting your own assets can you survive long-term in the crypto journey. Take care of yourself and those around you. Stay informed, stay cautious, and continue learning.
May everyone stay safe and happy.
