Former CEO of ACE Exchange, Lin, is in custody and banned from meeting anyone; two suspects surnamed Lin from a fraud ring are also in custody.

According to a report by United News Network, former head of ACE Exchange, Pan Yizhang, was revealed to be involved in large-scale fraud. The Taipei District Prosecutors Office detained and prohibited Pan Yizhang, Lin Genghong, and Lin Ruochiao, executives of Kanglin Company, from meeting with anyone, under the charge of "violation of the Banking Act," to investigate the flow of funds. Other accomplices were released on bail ranging from 30,000 to 200,000 yuan.

ACE Exchange: Cooperating with Investigation as a Witness

ACE Exchange recently stated:

Basically, ACE is cooperating with the investigation as a witness. Some media reports about our employees being involved in the case are not true, and we have already sent a letter to the media for correction. Since President Wang Chenhuan took office as President in September 2023, he has been committed to running the exchange legally and compliantly. In the event of suspected criminal activities, we will surely cooperate fully with the investigation and delist the disputed cryptocurrencies according to regulations."