CoinW Exchange involved in money laundering of 2.3 billion New Taiwan Dollars, person in charge faces 25 years in prison

According to HashLink, CoinW Exchange is accused of collaborating with a fraud syndicate to conduct money laundering activities, with the amount involved reaching 2.3 billion New Taiwan Dollars and over 1,500 victims. The Taipei Shilin District Prosecutor's Office has completed its investigation and has filed a public prosecution against 14 individuals, including the person in charge, Shi Qiren. The prosecutors have seized 640,000 USDT, Bitcoin, TRX, and cash assets. Shi Qiren faces charges of organized crime, serious fraud, and money laundering, with a possible sentence of 25 years in prison, while other involved individuals are suggested to be treated leniently or given probation.