$14 Billion Crypto Scam: Chinese Authorities Extradite Pyramid Scheme Leader
Summary
Chinese authorities extradited Zhang Moumou from Thailand, marking the first extradition for economic crimes between the two countries. Zhang is accused of leading a $14 billion cryptocurrency pyramid scheme that affected millions. The scheme operated from 2012 to 2019, attracting over 10 million members. Zhang was on the run from 2020 until his capture by Thai police in July 2022. The extradition was granted in May 2024 and finalized in August 2024, signaling a significant achievement in law enforcement and judicial cooperation between China and Thailand.
