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Taiwan Indicts 14 in $75M Crypto Laundering Case

Joshua Trelawen by Joshua Trelawen
August 22, 2025
in News
bustling urban tech scene painting
Key Points:
  • Taiwan indicts 14 in a $75M crypto scandal.
  • Suspects laundered money via unlicensed exchanges.
  • Assets seized include $41.4M and luxury vehicles.
taiwan-indicts-14-in-75m-crypto-laundering-case
Taiwan Indicts 14 in $75M Crypto Laundering Case

Taiwan has indicted 14 individuals for orchestrating a $75 million cryptocurrency laundering operation through fake crypto exchanges CoinW and BiXiang Technology Co., Ltd.

MAGA

This case emphasizes the risks of unlicensed exchanges, leading to asset seizures and reinforcing stricter regulatory enforcement in Taiwan.

Taiwanese authorities indicted 14 individuals involved in a $75M cryptocurrency laundering scandal. The scheme involved over 1,500 victims and unlicensed crypto exchanges like “CoinW” and “BiXiang Technology Co., Ltd.“

The ringleader Shi Qiren, faces a recommended 25-year sentence. The accused operated 40 fake storefronts, laundering funds through fabricated regulatory claims.

Taiwanese Prosecutor’s Office, Prosecutor, Shilin District Prosecutor’s Office, “We are charging 14 individuals who operated unlicensed exchanges and were involved in the fraudulent laundering of approximately $75 million.”

Prosecutors seized NT$1.275 billion ($41.4M), $3.13M in bank deposits, and 640,000 USDT. The scandal also saw the confiscation of luxury vehicles and other assets.

The laundering activities were masked with fraudulent claims of regulatory approval. This led to significant financial disruptions and regulatory action in the crypto market.

This case underscores Taiwan’s commitment to combating crypto fraud. The government continues to enhance its regulatory framework against unlicensed exchanges.

Future outcomes may include tighter regulations and increased scrutiny on crypto operations. Historical precedents in Taiwan show increased enforcement against unlicensed exchanges similar to the “BitShine” case.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

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Joshua Trelawen

Joshua Trelawen

Blockchain Researcher | Investigations Reporter | Tokenomics and Liquidity Analyst
Joshua Trelawen is a senior crypto researcher and reporter whose work focuses on the evidence beneath market narratives. At TheCCPress, he covers fraud signals, liquidity shifts, whale behavior, tokenomics, and the structural weaknesses that often sit behind high-confidence crypto stories. He is a strong fit for coverage that needs more than commentary and requires a careful reading of data, incentives, and market behavior.

“A good investigation does not just identify what looks suspicious. It explains the structure that made it possible.”

Profile
- Gender: Male
- Born: September 1990
- Based: Tallinn, Estonia
- Company: TheCCPress
- Website: https://theccpress.com/
- Coverage Focus: Investigations, fraud, collapse, tokenomics, liquidity, power structures

Experience
Joshua has spent more than a decade working across crypto research, journalism, and market analysis. His background includes advising research teams, interpreting on-chain data, following liquidity movements, and writing for audiences that need both context and precision. At TheCCPress, that makes him an ideal fit for investigations and stories where token structure or capital flows are central to the truth of the story.

Background
Trained in economics and finance, Joshua built a professional reputation around translating complex data into readable reporting. Although his earlier work covered broad crypto and DeFi topics, his value to TheCCPress lies in his ability to investigate how ecosystems are funded, how narratives are sustained, and where risk is being disguised as innovation.

Achievements
Joshua has published deep-dive reports on DeFi hacks, whale behavior, liquidity risk, and token valuation. He is particularly strong when a story needs to move from rumor or public narrative into a more disciplined explanation of what the evidence can actually support.

Work Style
His work style is analytical, source-led, and skeptical without being theatrical. Joshua is most effective when he can take a complex market or token story and show readers the structure underneath it: where the incentives sit, where the pressure points are, and where the narrative does not hold.

Skills
His core strengths include on-chain analysis, tokenomics research, investigative reporting, market-risk interpretation, data-backed feature writing, and long-form explanatory journalism. He is most useful on stories that require technical confidence and editorial restraint at the same time.

Additional Information
Within TheCCPress, Joshua is a natural fit for investigations/fraud, investigations/collapse, power/vcs, and selected conflicts/company stories. He strengthens the site’s ability to investigate systemic risk and questionable market structures.

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