9 detained in NT$5 billion crypto fraud affecting nearly 1,000 victims
Taipei, Jan. 31 (CNA) Nine individuals were detained Saturday for their alleged involvement in a cryptocurrency scam that defrauded nearly 1,000 victims of more than NT$5 billion (US$158.24 million) over several years.
The Taipei District Court approved the detention of a lead suspect surnamed Chiu (邱) and eight accomplices, ordering all nine held incommunicado, the court said.
The nine suspects were arrested Friday after the Taipei District Prosecutors Office led investigators and police in simultaneous raids at nine locations.
According to prosecutors, the group promised investors safe monthly returns of between 3 percent and 7 percent through investments in cryptocurrencies known as EGT and TBT via a fake lending website.
Nearly 1,000…
