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A Beijing Man Sentenced to 3 Years and 10 Months in US for Participation in 'Pig Farming' Money Laundering Scheme, Ordered to Pay $26.87 Million

2026.01.31 17:53:50

On January 31, Caixin reported that Su Jingliang—a 46-year-old Chinese national from Beijing—was sentenced to 46 months in prison and ordered to pay up to $26.87 million (roughly RMB 187 million) in compensation for his involvement in a pump-and-dump telecom fraud scheme tied to over $36.9 million in money laundering. Earlier, U.S. authorities took down a multinational scam and money laundering ring that built trust with victims through social media or dating apps, then lured them to a fake cryptocurrency trading platform for supposed "investments." Funds from 174 American victims flowed into accounts of 74 registered U.S. shell companies, which were immediately converted to the stablecoin USDT upon receipt. Su played a key "CFO" role in the fraud chain: he communicated with Deltec Bank employees via the encrypted messaging app Telegram, received funds from U.S.-based front-end shell companies, directed the bank to swiftly convert incoming dollar assets to USDT, and sent the stablecoin to a specific cryptocurrency wallet starting with "TRteo." The wallet’s funds ultimately funneled to a scam hub in Southeast Asia.
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Binance Futures will list MUUSDT and SNDKUSDT Quarterly Stock Token Futures

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ZachXBT Investigation Report: Circle Fails Compliance Multiple Times, Involved Amount Exceeds $420 Million

On-chain detective ZachXBT released an investigation report on Circle on April 3, 2026, alleging the firm has demonstrated lax compliance enforcement in multiple illicit fund incidents since 2022, with total illicit funds exceeding $4.2 billion. Circle, issuer of stablecoin USDC, has long been recognized for regulatory compliance and a robust compliance framework. Its token contract includes address freeze and blacklisting capabilities, and its terms of service explicitly reserve the right to restrict suspicious accounts. However, these mechanisms were not deployed timely or effectively in several major security breaches. The report specifically cites the April 1, 2026 Drift Protocol attack, where attackers stole approximately $2.8 billion in assets. Using Circle’s proprietary cross-chain bridge CCTP, the attacker transferred over 2.32 billion USDC from Solana to Ethereum within 6 hours—no assets were frozen during this window. Similar issues emerged in attacks on SwapNet, Cet

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Agora announced it will cease minting the stablecoin AUSD on Injective, with the redemption window open until September 28th

April 3 — Agora announced today that starting April 3, 2026, it will phase out issuance and support for AUSD on the Injective network. Under the latest update, no new AUSD will be minted on Injective, and existing AUSD holdings on the network will no longer earn rewards. However, users can still redeem AUSD at a 1:1 rate, with the redemption window open through September 28, 2026. This change only applies to the Injective network and does not impact AUSD operations on other blockchains. For redemptions, Agora said customers can complete the process by contacting their account manager. Users just need to send their Injective-based AUSD to the official channel, and the platform will help convert it to AUSD on the user’s designated blockchain or exchange it for USD or other supported stablecoins. The official note stresses that September 28, 2026 is the standard redemption deadline; remaining assets can still be processed after that, but may require additional KYC checks and incur f

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Informant: Iran Shoots Down U.S. Fighter Jet

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Three Oman-Flagged Ships Pass Through the Strait of Hormuz

CCTV News reported on April 3 that three large commercial vessels operated by Oman successfully transited the Strait of Hormuz on April 3 local time. The fleet includes two Very Large Crude Carriers (VLCCs) and one liquefied natural gas (LNG) carrier. Tracking data shows the three ships have reached waters off Oman’s Muscat and completed port entry procedures. Each VLCC is carrying approximately 2 million barrels of crude oil, while the LNG carrier appears to be empty. All three vessels are managed by an Omani shipping management firm, which has not commented on the transit.

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「Pal」 Increases Long ETH Position to 7171 Coins, with an Unrealized Loss of $157,000

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