Not Again: 15 Taiwanese Citizens Indicted over $8 Million Crypto Scam2

According to a report from local news outlet Focus Taiwan, Taiwanese police based in New Taipei, recently arrested 15 alleged cryptocurrency scam operators. The report claims that the suspects duped investors out of about $8 million as money collected for trading banned IBCoin tokens.

The news is coming barely ten days after the state indicted seven other suspects for managing a crypto-based investment scam that attracted about $51 million in investments from over 1,000 investors. A local report, had noted at the time, that the suspects had run a scheme that promised investors returns of up to 355%.

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