Wu Shuo learned that the U.S. District Attorney’s Office for the Eastern District of New York said that Zhuoying Chen and Haojie Zhang were arrested and indicted for allegedly participating in a “pig-butchering” investment fraud money-laundering network. The prosecution alleges that between 2020 and 2022, the two used about 45 shell companies and 140 corporate bank accounts to help transfer at least $43 million in criminal proceeds to accounts in China.

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AirdropGambler
· 6h ago
So ruthless—45 shell companies; this money-laundering operation isn’t small.
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HotAirBalloonCrossingMountains
· 15h ago
$43 million is enough for a lot of years in prison.
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DomainScout
· 15h ago
The U.S. is indeed proactive about catching scammers—but what about protecting victims and the source behind pig-butchering scams? You still need to guard against fraud.
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UnderUSDTree
· 15h ago
Seeing too many such news stories really makes me disappointed with the investment environment. Ordinary people are easy to be scammed, and it’s also hard to get funds back. I hope the law can punish such crimes severely.
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KOLBuster
· 16h ago
140 corporate bank accounts—starting a company is even more diligent than running a convenience store; they really’ll do anything to make money.
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LongTermZen
· 16h ago
Using shell companies and transferring in segments through multiple accounts is a typical money-laundering method. It’s estimated that the bank’s anti-money-laundering system didn’t catch it, or there are vulnerabilities internally.
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ChainHodler
· 16h ago
Pig-butchering scams were already harming people, and now they’re also building money-laundering networks—people like this deserve what happens when they get caught. But just think about how many are still out there who haven’t been caught. The gray areas between crypto and traditional finance still have far too many loopholes.
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