How $37 million stolen from Americans moved through a Bahamas bank into Tether’s USDT

A Chinese national accused of helping launder $36.9 million from crypto scam victims has been extradited to the United States. Zheng Zhao, 44, appeared in a Los Angeles federal court on Oct. 23 after his extradition from the Netherlands, where authorities had detained him in connection with an international fraud network operating from scam centers in Cambodia . The US Department of Justice said a judge ordered Zhao detained pending further proceedings. He was charged with conspiracy to commit money laundering in August 2025 and faces up to 20 years in federal prison if convicted. Prosecutors allege Zhao helped a criminal network move millions of dollars stolen from 174 identified American victims through US shell companies, international bank accounts and cryptocurrency wallets.

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