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Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network

avoid.net/zhuoying-chen-haojie-zhang-43m-pig-butchering-laundering-network→2/100·93% conf.
[VERIFIED]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·2YskYm…8QdL

Summary

Zhuoying Chen (aka 'Jolene,' 27, Brooklyn, NY) and Haojie Zhang (aka 'Kevin,' 38, Queens, NY) were charged by federal prosecutors on July 16, 2026 with conspiracy to commit money laundering in connection with laundering at least $43 million in proceeds from pig-butchering investment fraud schemes between 2020 and 2022. The pair allegedly managed a domestic infrastructure layer of a China-linked criminal network, recruiting over a dozen money mules across Brooklyn and Queens who opened 140 bank accounts under approximately 45 shell companies, then converted the layered funds to cryptocurrency for transfer to China-based co-conspirators. Both defendants face up to 20 years in prison.

Connected Entities

2 entities · 60 linked investigations
Organizations
□Tether52
Tokens
♦Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network
Relationships
  • Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network→mentioned with→Tether(60%)
Also appears in
Indonesia Pig Butchering Syndicate — Live Model Operation (2025-2026)·0Nexo·34Tether·52Gurhan Kiziloz·0DOJ Pig Butchering Civil Forfeiture — DC District July 2026·2Tudou Guarantee Telegram Marketplace·0PAX Gold (PAXG)·62BNB Chain Bridge·16A7A5 Stablecoin / Old Vector·0Drift Protocol DPRK Exploit (April 2026)·0+ 50 more

Connected Through

1 shared actor · 130 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

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Timeline(3 events)

2020

Alleged money laundering scheme begins. Chen and Zhang allegedly begin managing a network of money mules in Brooklyn and Queens who open bank accounts under shell companies to receive pig-butchering fraud proceeds.

DOJ Office of Public Affairs

31 December 2022

Alleged scheme concludes. By end of 2022, the network had allegedly laundered at least $43 million across 140 bank accounts under approximately 45 shell companies, converting funds to cryptocurrency for remittance to China-based co-conspirators.

DOJ Office of Public Affairs

16 July 2026

Federal indictment unsealed in the Eastern District of New York (Brooklyn) charging Zhuoying Chen and Haojie Zhang with conspiracy to commit money laundering. Both defendants appear in Brooklyn federal court. Case announced by DOJ, IRS-CI, FBI, HSI, and U.S. Postal Inspection Service.

DOJ Office of Public Affairs
Provenance & Audit Trail
Anchored on SolanaVerify on-chain18 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 18 of 19 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 8/8/2026, 12:20:31 PM

last updated: 8/25/2026, 10:29:33 PM

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