The Taichung District Prosecutors Office formally indicted Pan Yizhang, the founder of ACE Exchange, and six others on charges of engaging in large-scale fraud using virtual currency, involving an amount exceeding NT$300 million. This case not only involves virtual currency trading but also raises serious concerns about money laundering and organized crime, posing significant questions regarding the regulation and security of the cryptocurrency market.
Taiwan Prosecutors Indict ACE Exchange Founder for Alleged Fraud, Involving Over 300 Million NT in Cryptocurrency Transactions