Online Mining Scam: Second-generation scammers switch to virtual currency, defrauding hundreds of millions of New Taiwan Dollars

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Second-generation Gang Member Shifts to Cryptocurrency, Scams Millions in Mining Fraud

The 34-year-old son of a former leader of the Bamboo Union Gang, nicknamed "Zai Zai" and often compared to Kris Wu, has turned his focus to the popular trend of cryptocurrency mining. He first approached a network mining operator with a proposal to jointly invest in establishing a new mining farm. However, after receiving the funds, he embezzled them and used existing mining farms for false advertising to attract more investors.

Investors Inquire About Fund Whereabouts: "All Lost"

Through a series of carefully designed seminars and partnership plans, "Zai Zai" successfully deceived a mining farm owner surnamed Zhang of 25 million New Taiwan Dollars (approximately 900,000 USD) and numerous other investors, illegally profiting over a hundred million NTD in two years. When victims attempted to withdraw their shares or inquire about the funds, they were refused with the excuse of "all lost" and even faced threats from the Bamboo Union Gang.

The Taipei City Criminal Investigation Division, after conducting a thorough investigation, finally arrested "Zai Zai" and 12 accomplices earlier this month, seized various pieces of evidence including a Porsche SUV, Tesla electric cars, and are now tracing the flow of illicit funds.