Taichung-based cryptocurrency exchange scam: Fake trades, real robbers, NT$3.3 million stolen

In Taichung, Taiwan, a virtual currency robbery occurred where a 31-year-old cryptocurrency trader conspired with his 27-year-old friend to carry out a fake transaction turned robbery scheme, successfully deceiving and robbing a man of 3.3 million New Taiwan Dollars.

Trading at Exchange Turns into Robbery

Mr. Liao, 37, thought he was going to conduct a transaction involving Tether (USDT), but instead fell into a robbery trap. While in a car on Meiqun Road in Dali District, he was suddenly attacked and forced to hand over 3.3 million New Taiwan Dollars he was carrying.

Upon receiving the report, the Wufeng Police Substation immediately took action and swiftly formed a task force to investigate. After identifying the vehicle used in the crime, they were able to quickly arrest the suspects, Lin and Chen.

During police interrogation, Lin revealed that the reason behind planning the robbery was due to significant debts he was facing, leaving him no choice but to take a risky move.

Beware of Risks in Over-the-Counter Cryptocurrency Trading

This incident not only led to the resolution of a criminal case but also serves as a stark warning regarding the safety of over-the-counter cryptocurrency trading. It reminds us to remain vigilant when engaging in any form of financial transaction and to use legitimate and secure channels whenever possible to prevent similar unfortunate events.

According to the latest list published by the Financial Supervisory Commission's Securities and Futures Bureau on March 1, a total of 25 entities have completed declarations of compliance with anti-money laundering regulations. Businesses not included in this list are considered non-compliant.

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