ChainCatcher Message, the U.S. Department of Justice announced that a resident of La Puente, California, was sentenced to 51 months in prison for participating in a global cryptocurrency fraud money laundering scheme involving $37 million, and must pay restitution of $26.9 million.

He and his accomplices used a Bahamian company, Axis Digital, to receive funds, transferring victims' money to a Delta Bank account before converting it to USDT and sending it to a fraud wallet. This case is part of the Department of Justice's ongoing efforts to combat transnational "pig slaughter" cryptocurrency fraud and money laundering networks.