Pepe Coin

🔴 High Risk

The Florida Pepe Coin seizure case exemplifies the perilous intersection of meme token speculation and sophisticated cross-border money laundering, where a Chinese national, Tu Weizhi, allegedly defrauded a Citrus County resident of $47,421 through a deceptive online investment scheme, subsequently layering illicit proceeds across PEPE, DOGE, SOL, and AVAX to amass $1.5 million in seized assets. This incident starkly reveals the vulnerabilities inherent in Ethereum-based meme coins like PEPE, which lack substantive utility or transparent governance, rendering them prime vehicles for pump-and-dump manipulations and wash trading on platforms such as Uniswap, while blockchain analytics by Florida’s Office of Statewide Prosecution underscore both the traceability of such schemes and the regulatory gaps that enable rapid fund obfuscation via multi-wallet transfers and decentralized exchanges. Critically, the case signals a broader systemic risk in the cryptocurrency ecosystem, where speculative hype outpaces AML safeguards, demanding heightened scrutiny from global enforcers amid escalating DeFi fraud, yet the swift asset forfeiture under Florida’s Forfeiture by Wrongdoing framework offers a blueprint for deterrence—though the suspect’s evasion from China highlights persistent jurisdictional challenges in prosecuting transnational crypto crime.​

The Pepe Coin case is a high-profile investigation into investment fraud and money laundering involving meme coins, particularly PEPE. The case was initiated in July 2024 after a Citrus County resident reported significant losses in an online investment scam. Florida prosecutors, using advanced blockchain analytics, traced the illicit funds to a wallet linked to Tu Weizhi, a Chinese national. The authorities seized assets valued at $1.5 million, including PEPE, Dogecoin, Solana, and Avalanche. The case highlights the risks associated with investing in meme coins and the importance of regulatory oversight in the cryptocurrency market. The rapid response of authorities in seizing assets and tracing the movement of funds serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market.​

Countries Involved

The primary countries involved in the Pepe Coin case are the United States and China. The investigation was led by Florida prosecutors, specifically the Office of Statewide Prosecution, which coordinated with local law enforcement and federal agencies to trace the illicit funds. The assets were seized from a wallet allegedly managed by Tu Weizhi, a Chinese national who is currently believed to be residing in China. The cross-border nature of the case highlights the challenges of enforcing cryptocurrency-related laws when suspects are located outside the jurisdiction of the prosecuting authority. The United States has sought to arrest Tu if he enters the country, but extradition remains a complex legal process. The involvement of Chinese nationals and the use of Chinese-based wallets or exchanges underscore the global reach of cryptocurrency fraud and the need for international cooperation in combating such crimes. The case has also prompted discussions about the role of Chinese financial institutions and exchanges in facilitating or preventing cryptocurrency-related fraud. The investigation demonstrates the importance of collaboration between law enforcement agencies in different countries to track and recover stolen assets in the digital age.​

The Pepe Coin case was discovered and reported in July 2024, when a Citrus County resident filed a complaint with Florida authorities after losing $47,421 in an online investment scam. The investigation was initiated following this report, and prosecutors began tracing the funds through blockchain analytics. The seizure of assets, including PEPE, occurred in December 2025, after authorities successfully traced the illicit funds to a wallet linked to Tu Weizhi. The timeline of the case highlights the rapid response of law enforcement agencies in the face of emerging cryptocurrency-related crimes. The initial report led to a swift investigation, with prosecutors using advanced blockchain analysis tools to identify and track the movement of funds. The case was resolved within a relatively short period, demonstrating the increasing efficiency of law enforcement in dealing with digital asset crimes. The timing of the case also coincides with a broader crackdown on cryptocurrency fraud in the United States, as authorities seek to address the growing threat posed by digital asset scams. The rapid resolution of the case serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market.​

PEPE, DOGE, SOL, AVAX

The primary type of crime involved in the Pepe Coin case is investment fraud, specifically an online investment scam that resulted in significant financial losses for the victim. The case also involved money laundering, as the perpetrators used sophisticated techniques to obscure the trail of illicit funds. The fraud was carried out through a coordinated scheme that targeted unsuspecting investors, promising high returns on investments in digital assets. The perpetrators used blockchain analytics to trace the movement of funds and to identify wallets linked to the fraud. The case highlights the evolving tactics used by cybercriminals to exploit the anonymity and decentralization of cryptocurrency platforms. The involvement of meme coins like PEPE underscores the risks associated with investing in tokens that lack clear project fundamentals or governance structures. The case also demonstrates the importance of regulatory oversight and law enforcement in combating cryptocurrency-related crimes. The rapid response of authorities in seizing assets and tracing the movement of funds serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market.​

The entities involved in the Pepe Coin case include Florida prosecutors, specifically the Office of Statewide Prosecution, and the Cyber Fraud Enforcement Unit. The primary suspect is Tu Weizhi, a Chinese national who is believed to be residing in China. The investigation was prompted by a complaint from a Citrus County resident who lost $47,421 in an online investment scam. The seized assets were linked to a wallet allegedly managed by Tu, and the authorities used blockchain analytics to trace the movement of funds. The case also involved various cryptocurrency exchanges and wallets, including those used to store and transfer the illicit funds. The involvement of Chinese nationals and the use of Chinese-based wallets or exchanges underscore the global reach of cryptocurrency fraud and the need for international cooperation in combating such crimes. The case has prompted discussions about the role of financial institutions and exchanges in facilitating or preventing cryptocurrency-related fraud. The investigation demonstrates the importance of collaboration between law enforcement agencies in different countries to track and recover stolen assets in the digital age.​

There is no evidence of PEP (Politically Exposed Person) involvement in the Pepe Coin case. The primary suspect, Tu Weizhi, is a Chinese national who is not known to hold any political office or to be closely associated with any political figures. The case appears to be a straightforward investment fraud and money laundering scheme carried out by an individual with no apparent political connections. The lack of PEP involvement is notable, as many high-profile cryptocurrency-related crimes involve politically exposed persons or their associates. The absence of PEP involvement in this case suggests that the perpetrators were motivated primarily by financial gain rather than political influence or power. The case serves as a reminder that cryptocurrency-related crimes can be carried out by individuals with no political connections, and that law enforcement agencies must remain vigilant in monitoring the movement of funds and identifying potential threats in the digital asset market.​

The laundering techniques used in the Pepe Coin case included the use of multiple wallets and the rapid movement of funds across different cryptocurrencies. The perpetrators used blockchain analytics to trace the movement of funds and to identify wallets linked to the fraud. The case also involved the use of decentralized exchanges, such as Uniswap, to obscure the trail of illicit transactions. The involvement of meme coins like PEPE highlights the risks associated with investing in tokens that lack clear project fundamentals or governance structures. The perpetrators used a combination of tokens to obscure the trail of illicit transactions, making it difficult for authorities to trace the movement of funds. The case demonstrates the importance of monitoring the movement of funds across different cryptocurrencies, as criminals often use a combination of tokens to obscure the trail of illicit transactions. The rapid response of authorities in seizing assets and tracing the movement of funds serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market.​

The estimated value laundered in the Pepe Coin case is approximately $1.5 million. This figure includes the value of various cryptocurrencies seized by Florida prosecutors, including PEPE, Dogecoin, Solana, and Avalanche. The seizure of assets valued at $1.5 million demonstrates the significant financial impact that meme coin scams can have on investors and the broader market. The case highlights the risks associated with investing in tokens that lack clear project fundamentals or governance structures. The involvement of meme coins like PEPE underscores the importance of monitoring the movement of funds across different cryptocurrencies, as criminals often use a combination of tokens to obscure the trail of illicit transactions. The rapid response of authorities in seizing assets and tracing the movement of funds serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market.​

The transaction analysis in the Pepe Coin case involved the use of advanced blockchain analytics tools to trace the movement of funds across multiple wallets and cryptocurrencies. The authorities were able to identify wallets linked to the fraud and to trace the movement of funds to a wallet allegedly managed by Tu Weizhi. The analysis revealed that the perpetrators used a combination of tokens to obscure the trail of illicit transactions, making it difficult for authorities to trace the movement of funds. The involvement of meme coins like PEPE highlights the risks associated with investing in tokens that lack clear project fundamentals or governance structures. The case demonstrates the importance of monitoring the movement of funds across different cryptocurrencies, as criminals often use a combination of tokens to obscure the trail of illicit transactions. The rapid response of authorities in seizing assets and tracing the movement of funds serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market.​

The regulatory and enforcement actions taken in the Pepe Coin case included the seizure of assets valued at $1.5 million, including PEPE, Dogecoin, Solana, and Avalanche. The authorities used Florida’s Forfeiture by Wrongdoing framework to seize the assets, and the seizure was carried out under a judicial order. The authorities also sought to arrest Tu Weizhi if he entered the United States, and the case has prompted discussions about the need for greater oversight of cryptocurrency-related activities. The rapid response of authorities in seizing assets and tracing the movement of funds serves as a warning to potential perpetrators and a reassurance to investors that authorities are capable of responding quickly to emerging threats in the cryptocurrency market. The case has also prompted regulatory bodies to reassess the risks associated with meme coins and the need for greater oversight in decentralized finance platforms.​

Pepe Coin
Case Title / Operation Name:
Florida Pepe Coin Seizure
Country(s) Involved:
China, United States
Platform / Exchange Used:
Uniswap, Decentralized Wallets
Cryptocurrency Involved:

PEPE, DOGE, SOL, AVAX

Volume Laundered (USD est.):
$1.5 million
Wallet Addresses / TxIDs :
Wallet linked to Tu Weizhi (specific addresses traced via blockchain analytics)
Method of Laundering:

Multiple wallet transfers, cross-chain movements across PEPE/DOGE/SOL/AVAX, decentralized exchange layering ​

Source of Funds:

Investment fraud scam targeting Citrus County resident ($47,421 initial loss) ​

Associated Shell Companies:

N/A

PEPs or Individuals Involved:

Tu Weizhi (Chinese national, primary suspect)

Law Enforcement / Regulatory Action:
Florida Office of Statewide Prosecution seized $1.5M assets under Forfeiture by Wrongdoing; arrest warrant for Tu Weizhi ​
Year of Occurrence:
2024 (reported July 2024, seized Dec 2025)
Ongoing Case:
Closed
AML Network Risk Rating:
🔴 High Risk
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