THELOGICALINDIAN - Police administering in Taiwan arrested 14 bodies that were allegedly complex in a cryptocurrency advance betray This betray defrauded added than 100 bodies out of about NT150 actor US541 actor over the accomplished year Local Taiwan account armpit The Taipei Times reportedthis account on Monday
According to the report, the Criminal Investigation Bureau (CIB) has answerable the 14 suspects. These accuse accommodate fraud, money laundering, and breaches of the Organized Crime Prevention Act.
This adventure is aloof one amid the growing cardinal of crypto scams that accept occurred recently.
The Taiwan Suspects Alleged Crimes
According to CIB investigator Kuo Yu-chih, a Taiwan agent surnamed Chen allegedly led the scheme. Chen answer cryptocurrency advance on amusing media. He was additionally reportedly active Azure Crypto Co, a Taipei-based belvedere that offered assorted advance services, including cryptocurrency transactions.
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Kuo said that Chen’s advance schemes focused on the cryptocurrencies such as Ethereum, Tronix, and Tether. He added that Chen promised aerial advance balance through blockchain technology.
“Chen and his agents set up Web sites, and allegedly acclimated photographs of appealing women to allure mainly macho victims, abounding of whom were in retirement with abundant savings,” he said.
Based on the report, the adorable images on the websites drew the victims. Chen and his agents affected to be women while persuading the victims to advance in the crypto scheme. According to the Taiwan investigator, they additionally presented themselves as banking admiral specializing in crypto mining.
Investigators bedeviled annal advertisement added than 100 bodies bent up in the scam, the agency said. The CIB started ecology the firm’s activities and online affairs afterwards accepting complaints from one of the victims. The being absent the best because they had invested about $1.5 actor (over 29 actor New Taiwan dollars) over two months. According to the CIB, the man said that afterwards an antecedent investment, Azure Crypto promised him balance that prompted him to advance more. Afterwards several months of investigation, the CIB raided the aggregation appointment as able-bodied as the residences of Chen and his associates.
Similar Crypto Scams
There accept been letters of agnate cryptocurrency scams accident globally. Last month, UK badge bedeviled crypto account $22.25 actor from operators of an all-embracing cryptocurrency scam. Similarly, in the United States, a above BitConnect apostle was bent active a crypto arrangement account over $2 billion. This crypto arrangement was the better cryptocurrency artifice anytime charged.
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The United States Securities and Exchange Commission recently published a new broker active accompanying to advance scams. The SEC said that the capital acumen for scams and exploits is due to the crypto ecosystem’s “rising popularity.”
