She Zhijiang’s Crypto Scam Empire Crumbles: Chinese Tycoon Extradited in High-Stakes Fraud Case

Another 'crypto visionary' falls from grace—She Zhijiang's empire of smoke and mirrors collapses as authorities reel him in. The extradition marks a rare win for regulators chasing digital asset fraudsters.

How the scam worked: Promising blockchain riches, Zhijiang allegedly built a Ponzi scheme dressed in DeFi clothing. Victims piled in, lured by the siren song of 1000% APY—until the music stopped.

The takeaway? When a 'businessman' claims his token will moon but can't explain the tokenomics, that's not a red flag—it's a flashing neon exit sign. The crypto space keeps learning this lesson the hard way.

• After years of running from justice, Chinese businessman She Zhijiang has been extradited from Thailand to China to face serious charges of fraud, money laundering, and online gambling.
• One of his infamous projects, Shwe Kokko city in Myanmar, has been exposed as a hub for human trafficking and a place for running large-scale cyber scams.

Lately, different nations of the world have been working tirelessly and in collaboration with one another to reduce the number of crypto scams and sanction the perpetrators in charge of organizing them. A few hours ago, BBC shared the details of a Chinese businessman who the authorities have finally caught up with after running for too long.

According to the details, he has been sent to China to face charges for all the offenses he has committed, and he WOULD do this with no legal appeals.

 How She Zhijiang Built His Scam Empire Over the Years 

The 41-year-old businessman had his humble beginnings in a rural area.  He was born in Hunan province, China, and started learning computer programming as early as 14 years old. Later on, as he grew older, somewhere around his 20s, he moved to Palestine to join the gambling industry.

For many years, She Zhijiang was a controversial figure and one of the first people that would come to mind whenever you speak about online fraud and gambling networks across Southeast Asia. In fact, the Chinese official claims that he built and controlled an underground organization that made profits from illegal gambling and online scams.

Zhijang was able to successfully carry out his operations by trapping thousands of Chinese citizens and tricking them into working in his cybercrime compounds.

In 2022, the Thailand police officers arrested him at the request of Chinese authorities through Interpol. And recently, the Thai court has confirmed that he would be extradited, and there would be no more legal appeals. On Wednesday, according to images shared, he was seen at Bangkok’s main airport and was surrounded by security officers as he was prepared for his flight to China. 

“Shwe Kokko”: The City Used To Carry Out Major Scam

One of She Zhijiang’s most popular projects is the “Shwe Kokko” city in Myanmar, located somewhere very close to the Thai border. This place was promoted as one of the most luxurious cities for Chinese tourists, and it was filled with fancy hotels and tall and shining buildings, as well as entertainment centers. However, behind all the attractive images people could see, it was discovered that the city was a hub for human trafficking, money laundering, and online fraud. 

Earlier this year, a BBC team member visited Shwe Kokko and discovered that, despite the official claims of reform, the area still had so many signs of scam centers that were running quietly. With his extradition now confirmed, She Zhijiang’s future will depend on how the Chinese judicial system decides to handle his case.

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