The Anti-Corruption Unit (ACU) has discovered an elaborate cryptocurrency money-laundering network used by a Chinese “ringleader” tied to online-scаms to move more than $250 million out of the Kingdom through digital wallets and a local cryptocurrency exchange.

According to the ACU, the case highlights how sophisticated criminal networks can exploit virtual assets, artificial intelligence and informal financial channels to conceal illicit funds, move money across borders and evade law enforcement.

Investigators added scam proceeds were converted into cryptocurrency before being transferred to overseas wallets and later converted into conventional currencies, including US dollars, Chinese yuan and Cambodian riel.

The investigation centres on Chinese national Zhang Jian Qiang, also known as Cai You Yuan and nicknamed “Trongol”. The ACU identified him as an alleged ringleader of an online-scam network operating in Prek Khsach commune, Koh Kong province. Investigators said Zhang allegedly controlled more than 10 cryptocurrency accounts on the “TokenPocket” platform, which were used to move proceeds from fraudulent activities.#QNTRises287% #EarningsSeason #TrumpRejectsAIRulesForVoluntaryAudits