Reported 8 months ago
The Taipei District Prosecutor's Office led investigations into a domestic cryptocurrency exchange scam involving a principal named Pan, a mastermind named Lin, and 32 other core members, for allegedly deceiving victims into investing in worthless coins, culminating in the confiscation of over 610 million NTD in illegal gains. The group exploited people's lack of understanding of virtual currencies, spreading false information about the coins' future potentials, and roping in victims, including through the use of celebrities and corporate endorsements. The police seized evidence of hierarchical marketing teams and training programs devised by the criminal organization to trick people into purchasing 'air coins' for illicit profits, with victims losing up to 2.3 billion NTD.
Source: YAHOO