US arrests two Chinese nationals in $73 million crypto scam

News Snapshot:

(Reuters) - U.S. authorities charged two Chinese nationals in a cryptocurrency scam that laundered at least $73 million from defrauded victims, the Justice Department said on Friday. U.S. officials arrested Yicheng Zhang in Los Angeles on Thursday, according to an indictment unsealed in U.S. District Court in California's central district later that day. Daren Li, a dual citizen of China and St. Kitts and Nevis, was arrested at the Atlanta airport in April. The U.S. accused the two of being involved in a type of cryptocurrency investment scam known as pig butchering, which has become a global billion-dollar industry. The...