Reported 3 months ago
The well-known cryptocurrency exchange, ACE Exchange, has been implicated in a fraud case involving its 'Alfred Wallet', leading to remote shutdown of the wallet. The system administrator, known by the surname Hu, fled abroad for over nine months but recently surrendered due to pressure. The case has shaken the cryptocurrency community, with initial estimates of laundering reaching 33 billion TWD. Hu had escaped to Hong Kong after receiving funds from a mastermind to evade arrest, but following developments, he experienced financial hardship and reached out to authorities, leading to his detention upon returning.
Source: YAHOO