Continued squatting! The Taipei District Prosecutors Office has applied for the extension of detention for Lin, a member of the fraud group, and individuals involved in the ACE premier exchange case.

The Taipei District Prosecutors Office detained and denied communication rights to ACE Exchange founder Pan Yi-chang, Lin Geng-hong, the ringleader of a fraud group, as well as Lin Ruo-qiao, Lin Geng-hong's younger brother Lin Geng-han, accomplice Lin Jing-zhi, Chang Er-jie, and Lin Wan-yu who were responsible for promoting cryptocurrencies, on January 5th.

The Taipei District Prosecutors Office detained and prohibited visits for 7 individuals including ACE Exchange founder Pan Yizhang, fraud ring leader Lin Genghong, as well as Lin Ruochiao and Lin Genghan who were responsible for promoting virtual currencies, along with accomplices Lin Jingzhi, Zhang Erjie, and Lin Wanyu on January 5.

According to United Daily News, as the detention period is expiring, the Taipei District Prosecutors Office has applied for a 2-month extension of detention for the 7 individuals.

Since the first wave of searches by the prosecutors on January 3, cash amounting to NT$115.2 million and virtual currencies worth NT$180 million have been seized. MOCT coin strikes back at ACE Exchange! Police confiscated over NT$100 million in cash from Lin's residence.

On January 23, investigators from the New Taipei City Criminal Investigation Division, Taipei City Investigation Branch, Jiaoxi and Su'ao Sub-Bureaus of Yilan County conducted searches at 10 locations. They detained ACE Exchange's current responsible person Wang Chenhuan, and five others involved in listing MOCT coin on exchanges like ProEX and handling related business. Swindler Lin Genghong and lawyer Wang Chenhuan, who claimed to list MOCT coin on exchanges, were the masterminds behind the air coin scam, with Pan Yizhang acting as the figurehead.