"Buffett to Acquire TSMC" April Fool's Joke by Internet Celebrity Sparks International Controversy, FSC: Maximum Fine of Two Billion

April Fool's jokes can sometimes go too far, especially when they involve the financial markets and international investment giants, the consequences may not be so funny. Recently, a Taiwanese internet celebrity, "Mo Stock Stark," posted an April Fool's fake news that caused quite a stir globally.

Influencer's April Fools' Joke Causes Stock Market Fluctuations, Regulators Launch Investigation

On April Fools' Day, "Moorestock" posted a seemingly Bloomberg-like report on Facebook claiming that Warren Buffett had repurchased all the shares of Taiwan Semiconductor Manufacturing Company (TSMC). This news was quickly shared by multiple media outlets and investors, with some international media even reporting on it, causing a significant impact.

Market Reacts Instantaneously

Impacted by this news, the American Depositary Receipts (ADR) of TSMC surged by 4% on April 1st, driving TSMC's stock price on the Taiwan Stock Exchange up to 790 NTD, contributing approximately 160 points to the overall market increase.

FSC Intervenes with Investigation: Maximum Penalty of Ten Years in Prison and Two Hundred Million NTD Fine for Unlawful Acts

Faced with this sudden event, Taiwan's financial regulatory authorities swiftly launched an investigation. Huang Hou-ming, Deputy Director-General of the Financial Supervisory Commission (FSC), stated that they have received complaints from investors and have instructed the Stock Exchange to initiate surveillance and inspection mechanisms. If unlawful behavior is discovered, severe penalties will be enforced by law to protect the interests of investors.

According to relevant laws, spreading false information to manipulate the stock market could lead to a maximum of ten years' imprisonment and a fine of up to 200 million NTD. This incident serves as a reminder to the public to exercise caution when dealing with online information, especially in financial investment matters.

Influencer "Moorestock" Publicly Apologizes

In the aftermath of the incident, "Moorestock" realized the seriousness of the situation and issued a public apology, explaining that it was all meant as an April Fools' joke. He emphasized that no trading activities were conducted during the event and there was no personal gain from the information.

Severe Consequences of Market Manipulation

The repercussions of this April Fools' joke not only put "Moorestock" at legal risk but also brought about some chaos in the financial market. The speed and influence of information dissemination on the internet are immense, and responsibly sharing and handling information is crucial for everyone.

In the cryptocurrency community, the spread of false information by influencers, KOLs, or media is more common. Although financial regulators rarely enforce market manipulation in the cryptocurrency market, with regulatory developments, one must be cautious to avoid the risk of breaking the law.

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