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EVENT / TOPICHistorical

Zheng Zhao Extradited for $36.9 Million Money Laundering via USDT

1 reports1 sources10/25/2026 updated

Current overview (not historical)

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Zheng Zhao was extradited to the United States to face conspiracy to commit money laundering charges. Prosecutors allege Zhao helped a criminal network move $36.9 million stolen from 174 American victims through shell companies and cryptocurrency wallets, with funds traced from US bank accounts to a Deltec Bank account in the Bahamas and converted into Tether USDT before being transferred to Cambodia. If convicted, Zhao faces up to 20 years in federal prison.

Written with AI from the reporting · updated 10/25/2026

Latest developmentOct 26, 02:40
US extradites Chinese national Zheng Zhao for laundering $36.9 million from crypto scam victims into USDT
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  1. 1Unclassified fact stationOct 23, 00:00recorded Oct 26, 02:43single sourcerevised

    Zheng Zhao extradited for laundering $36.9 million into USDT

    Read original source ↗ CryptoSlateReplay this moment in the explorer
    Evidence & revisions · 1 source records
    Subject：
    Zheng Zhao
    Action：
    extradited to the United States
    Object：
    to face charges of conspiracy to commit money laundering
    Occurred (fact side)：
    Oct 23, 00:00
    CryptoSlate ↗Report pageRevision 2 · currently revised
    Published (valid side)：
    Oct 26, 02:40
    First seen (known side)：
    Oct 26, 02:43
    Fact stationSingle source · one-sided claimRevised

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Oct 26
  1. CryptoSlateRelated fact: single sourceSource report revised
    US extradites Chinese national Zheng Zhao for laundering $36.9 million from crypto scam victims into USDT

    Report first recorded Oct 26, 02:43

    US prosecutors allege that Chinese national Zheng Zhao helped launder $36.9 million stolen from 174 American victims through a Bahamas bank account at Deltec Bank, which was converted into Tether's USDT stablecoin before being transferred to Cambodia. Zhao was extradited from the Netherlands and faces up to 20 years in prison for conspiracy to commit money laundering.

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