David Pan, founder of the major exchange in Taiwan, was accused of money laundering and fraud involving assets worth at least $10.7 million.
Taiwanese prosecutors have indicted David Pan, founder of ACE Exchange, one of the major exchanges in Taiwan, along with six other suspects, on charges of money laundering and fraud involving assets worth at least $10.7 million.
The victims realized they had been scammed when they failed to withdraw assets from their wallets, according to the statement. The group allegedly defrauded at least 162 individuals, involving over NT$342 million , the prosecutors stated. “Please rest assured. The trading and operational status of ACE Exchange is completely normal,” ACE said. “We guarantee the security of user assets. All services for depositing and withdrawing cryptocurrencies and New Taiwan dollars are operating smoothly.”Pan has also been detained for another fraud case he allegedly orchestrated.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
KuCoin Exchange to incentivize customers with $10 million airdrop amid DoJ, CFTC-related lawsuitIn a Tuesday announcement, the US Department of Justice (DoJ) in collaboration with the Commodities Futures Trading Commission (CFTC) and the Homeland Security Investigations (“HSI”) levied charges against KuCoin Exchange and two of its founders, Chun Gan (Michael) and Ke Tang (Eric).
Read more »
382 Billion SHIB Mysteriously Relocated as Shiba Inu Price on EdgeShiba Inu witnesses mysterious $10 million major exchange transfer amid SHIB price uncertainty
Read more »
$10 million donated to MOSH for new location as separate Downtown project makes progressThe MOSH had to raise $40 million as part of an agreement with the City of Jacksonville. Leaders expect to reach that goal by June.
Read more »
Spartan Capital leads $10 million strategic funding round for Bitcoin DeFi developer ALEXALEX leverages Layer 2s, bridges, oracles and other infrastructure to create a Bitcoin-specific decentralized finance layer.
Read more »
California offers health insurance for as little as $10 a monthCalifornians without health insurance are again facing tax penalties this year, and some may pay more in fines than they’d spend buying coverage, state officials say.
Read more »
My Mom's Secret to Brightening Her “Racoon-Like” Under-Eyes Is This $10 Eye CreamMy mom is stocking up on her go-to Derma-E Hydrating Eye Cream that lifts, brightens, and de-puffs under-eyes while it’s on sale for $10 on Amazon.
Read more »