BlockBeats reported that on September 25, according to China News Network, the Yunlin District Prosecutor’s Office in Taiwan, China, cracked a major virtual currency fraud case involving more than NT$134 million. The prosecutors prosecuted 33 people involved in the case, including members of the Mingren Club of the Bamboo Union Gang and two Kaohsiung police officers.

The case occurred in July 2023. The police arrested a 30-year-old man surnamed Chen who was suspected of using virtual currency for fraud. Later, they arrested a 28-year-old suspect surnamed Chen and applied for detention. Further investigation found that the two were related to a Kaohsiung police officer surnamed Chen, who used his position to provide investigative intelligence to the fraud group. Another police officer involved in the case, a man surnamed Hong, is suspected of assisting in the inquiry of people’s personal information and teaching members of the fraud group to respond to police investigations.

The Taiwan prosecutors said that the criminal group was led by the main suspect surnamed Wu, who controlled dozens of “drivers” (people who help fraudsters withdraw fraudulent funds) and managed more than 40 virtual currency wallets to conduct large-scale money laundering and fraud activities. The police launched more than 20 search operations and seized more than 90 million New Taiwan dollars in cash and more than 50 million New Taiwan dollars in virtual currency.

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