Alleged Bitcoin Scam Organizers Arrested in Taiwan
MyCoin is currently under investigation for running a Ponzi bitcoin scam, and two of its organizers were recently arrested in Taiwan. According to Taipei's Criminal Investigation Bureau, individuals Lu Kuan-wei and Chen Yun-fei were apprehended since they have held a few events for MyCoin. "Chen and Lu held several events for investors convincing each one to spend NT$1.62 million (US$49,600) for 90 BTC and an account with MyCoin's parent company, which would distribute 0.63 of a bitcoin every day for a total value of NT$11,000 (US$337). The investors were told that their investment would....
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Authorities in Taiwan have reportedly arrested two individuals in connection with MyCoin, an alleged Ponzi scheme targeting bitcoin users. News service China Times reports that Taipei's Criminal Investigation Bureau announced on 20th August that Lu Kuan-wei and Chen Yun-fei were apprehended and charged with their involvement in the scam. Lu and Chen reportedly held a number of MyCoin-related events. The scam resulted in millions of dollars in losses in various Asian countries. Victims were duped into investing in the bitcoin investment platform, which promised outsized returns. The China....
Fourteen suspects allegedly behind a cryptocurrency scam have been arrested in Taiwan. According to the country’s Criminal Investigation Bureau, the scheme has defrauded investors out of millions of dollars. Suspects Behind Crypto Scam in Taiwan Arrested The country’s Criminal Investigation Bureau (CIB) explained that the crypto scam allegedly defrauded more than 100 people out of about NT$150 million (US$5.41 million) over the past year. The suspects now face charges of fraud, money laundering, and breaches of the country’s Organized Crime Prevention Act, the Taipei....
An alleged mastermind of a cryptocurrency scam has been arrested in India after he fled the country to Dubai. Investors were duped into investing in a cryptocurrency linked to a crypto exchange he established. The scheme also promised investors a monthly return of 20%-30% on investments. Alleged Kingpin of Crypto Scam Arrested An alleged mastermind of a cryptocurrency scam, Umesh Verma, was arrested at the Indira Gandhi International Airport on Thursday as he arrived from Dubai. Local media reported that he was arrested “on charges of duping at least 45 people to the tune of Rs 2.5....
Police administration in Taiwan arrested 14 people that were allegedly involved in a cryptocurrency investment scam. This scam defrauded more than 100 people out of about NT$150 million (US$5.41 million) over the past year. Local Taiwan news site – The Taipei Times – reported this news on Monday. According to the report, the Criminal Investigation Bureau (CIB) […]
MyCoin was one of the biggest scams to hit the shores of Hong Kong this year. The alleged bitcoin exchange based out of Hong Kong was in fact an elaborate Ponzi scheme that successfully managed to rip off over $387 million dollars in customer investments after they shut shop overnight earlier this year. Many South East Asian and Chinese investors were victims of this Ponzi scheme, which has got the police forces in multiple countries conducting their own investigations to ensure justice is served. Hong Kong was the first to counter some success in March after the cops there managed to....