ACE Exchange founder arrested on suspicion of fraud, police seized $6.4 million worth of illegal gains
The founder of ACE Exchange, one of the largest cryptocurrency exchanges in Taiwan, David Pan, has been arrested on suspicion of planning fraud, as reported by local media, the Liberty Times. The police have seized at least 200 million New Taiwan Dollars (6.4 million US dollars) worth of illegal assets.
An ACE Exchange spokesperson stated that although David Pan founded the company, he stopped participating in daily operations in 2022. The spokesperson pointed out that ACE Exchange is currently cooperating with the police investigation as a witness.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Surpasses $76,000 After US Elections: What's Next for Altcoins?
Bitcoin Policy Institute: U.S. Should Build Strategic Bitcoin Reserve
A new report from the Bitcoin Policy Institute suggests that the U.S. should consider building a Strategic Bitcoin Reserve (SBR).
Polymarket Whales Score Big on Trump Bets
Some crypto investors, known as "whales," have made a fortune by betting on former President Donald Trump’s chances in the 2024 U.S. election
Post-Election Strategy, Why ‘Selling the Truth’ Could Drive BTC and Gold