Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 2 → 26. Problems weighed by who is responsible: the subject's own conduct −84, problems around the subject, caused by others −3; legitimacy credit long-running +10, regulated +5; no established finding that it defrauded anyone, so it stays out of the red band. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -84 |
| Problems around it, caused by others | -3 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | -7 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →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- Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network→mentioned with→Tether(60%)
Connected Through
1 shared actor · 129 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Tetherorganization
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 Affairs31 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 Affairs16 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 AffairsDecision Log
- slot 455360300 · hash CC3iRunrt5Q6vkHrokDwMDm3pbE7K6TMJuDcm1ePZ9LJ
- slot 443517775 · hash 6i67geqKj8FQBoYHAHBaUQu1x6tqU4gZr2pdBRmFcfLg
- slot 443517772 · hash ApvUsCByHmogeiiHCApNkFqB5jEGLCtq4wNf1bTEvJtr
- slot 443506030 · hash BYtzwmnqC7SEpTnbo48E7Wq9FpzABsZGuhNpbexKS5t7
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 18 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/8/2026, 12:20:31 PM
last updated: 10/10/2026, 6:41:19 PM
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