Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Taiwan ACE Exchange founder and seven others indicted in $10.7 million fraud case

Taiwan ACE Exchange founder and seven others indicted in $10.7 million fraud case

CointimeCointime2024/04/10 08:14
By:Cointime

The Taiwan prosecutor has sued ACE Exchange founder David Pan and six other suspects, accusing them of money laundering and fraud involving assets worth at least $10.7 million. The prosecutor said on Monday that ACE Exchange is suspected of establishing offshore entities and providing so-called "Alfred Wallet" services, attracting investors to deposit stable coins into the so-called wallet. The statement said that victims realized they had been cheated when they were unable to withdraw assets from the wallet.

Prosecutors said the group is suspected of defrauding at least 162 people, involving more than 342 million new Taiwan dollars (approximately $10.7 million). ACE Exchange said that it is a former executive and that the wallet service involved in the case is independent of the exchange and was developed by David Pan and an external team.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin's Nosedive to Under $100K Shaves $700M Crypto Longs, XRP Drops 5%

BTC fell under $100,000 in late U.S. hours before slightly recovering during early Asian hours Thursday, as the Federal Reserve hinted at a few rate cuts in 2025. Fed chair Jerome Powell then said at a post-FOMC press conference that the central bank wasn’t allowed to own bitcoin under current regu

Bitget Academy2024/12/19 07:29