TechFlow news — On September 25, according to China News Service, the Yunlin District Prosecutors Office in Taiwan cracked a major cryptocurrency fraud case involving over 134 million New Taiwan Dollars. A total of 33 suspects were indicted, including members of Mingren Society, a faction of the Bamboo Union gang, and two police officers from Kaohsiung.
The case originated in July last year when police arrested a 30-year-old man surnamed Chen for allegedly using cryptocurrencies to conduct fraud. Subsequently, a 28-year-old suspect also surnamed Chen was apprehended and detained by court order. Further investigations revealed both individuals were linked to another male officer surnamed Chen from Kaohsiung City Police Department, who used his official position to provide investigative intelligence to the fraud syndicate. Another implicated officer, surnamed Hong, is suspected of assisting in retrieving personal information of citizens and instructing fraud group members on how to evade police investigations.
Prosecutors stated that the criminal organization was led by a primary suspect surnamed Wu, who controlled dozens of "runners" (individuals specializing in withdrawing illicit fraud proceeds) and managed over 40 cryptocurrency wallets to carry out large-scale money laundering and fraudulent operations. Police conducted more than 20 search operations, seizing over 90 million New Taiwan Dollars in cash and cryptocurrencies valued at over 50 million New Taiwan Dollars.
