15 Suspects Arrested in Alleged $8 Million Taiwan Cryptocurrency Scam

Taiwan’s Criminal Investigation Bureau (CIB) made the announcement on Saturday that they had apprehended 15 suspects that are believed to be part of a scam that has defrauded over 30 investors out of more than NT$250 million, which breaks down as approximately $8.15 million US Dollars. The scam surrounds a cryptocurrency called IBCoin, which was supposedly used to part investors from their cash in Taiwan. This alleged crypto fraud case is one of the largest so far this year in Asia and is currently big news in Taiwan.

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