Department of Justice Charges Chinese Nationals in Cryptocurrency Fraud

The Department of Justice announced on Thursday that two Chinese nationals are facing charges for their alleged roles in running cryptocurrency fraud operations abroad. U.S. Attorney for the District of Columbia, Jeanine Pirro, stated that the Trump administration is “just getting started” in tackling these kinds of conspiracies.

During a press conference in Washington, D.C., Pirro described cyber-related cryptocurrency investment fraud as “one of the fastest growing and most economically destructive forms of cybercrime targeting Americans today.” This announcement follows the creation of the Fraud Center Strike Force, which Pirro initiated last November after President Trump’s executive order.

“Today marks a significant step in our fight. We’ve indicted Chinese operators who managed fraudulent operations in Burma, where numerous individuals were trafficked and forced to commit fraud against Americans,” Pirro informed the media. “Additionally, we confiscated a Telegram channel that lured workers into concentration camps in Cambodia, where they impersonated American banks and law enforcement to defraud citizens.”

Pirro further detailed the shutdown of over 500 websites used for the theft of American savings. “My office will persist in tracking down the stolen funds,” she added. “We’ve already withheld over $700 million in cryptocurrencies intended for fraud victims in the United States. The administration’s commitment to confronting these frauds is resolute, and we’re only beginning this fight.”

Operation Details

The two suspects, Huang Xingshan and Jiang Wenjie, were arrested in Thailand earlier this year for allegedly operating a cryptocurrency fraud facility in Burma. Charges against them include conspiracy to commit wire fraud, and efforts are underway to extradite them to the U.S.

According to the Justice Department, the Shunda facility functioned from at least January to November of 2025, utilizing sham websites posing as legitimate investment platforms to defraud victims, including Americans. “The workers there were trafficked individuals who were coerced into committing fraud under threat of violence,” the department stated.

Details from the investigation revealed that Huang was a senior manager, and Jiang supervised workers who specifically targeted American victims. “Under Jiang’s watch, one employee defrauded an American victim of over $3 million. This incident was seen as a substantial success within their ranks,” the Justice Department added.

Ongoing Fraud Activities

After the Shunda facility was seized, both men reportedly relocated to another fraudulent operation in Cambodia, where they sought to maintain their cryptofraud activities. The Strike Force subsequently seized a Telegram channel boasting over 6,000 followers, which was being used to lure individuals under false pretenses of lucrative employment. Once in Cambodia, these workers were held against their will and compelled to defraud others, mimicking law enforcement roles.

Pirro urged Telegram co-founder Pavel Durov to close this channel. “The workers, when they accept these positions, pose as banks or police officers. They convincingly mimic Americans, instructing victims to relinquish money or face legal action,” she explained.

Pirro emphasized the grave implications, stating, “This is not abstract. Friends, neighbors, retirement savings—they’ve been impacted. Some victims are so overwhelmed that they take drastic actions. This is, in essence, economic murder. We are determined to pursue these criminals, who thought they were beyond our reach. Today we demonstrate they are not, and we are just getting started.”