According to Taiwan's United Daily News, the Taiwanese prosecutors are investigating the largest virtual currency physical exchange in history for alleged money laundering. Today, the Shilin District Prosecutor's Office prosecuted the person in charge, Shi Qiren, and 13 others on charges of fraud, money laundering, and organized crime, and requested the confiscation of criminal proceeds amounting to 1.275 billion New Taiwan dollars. The prosecutors pointed out that Shi Qiren and others, through the unapproved overseas exchange CoinW and its affiliated franchise stores, opened more than 40 stores across Taiwan, assisting fraud groups in exchanging cash for virtual currency, with money laundering amounting to as high as 2.3 billion New Taiwan dollars within a year, and more than 1,539 victims. The case involved the seizure of cash amounting to 60.49 million dollars and 640,000 USDT, among other assets. The prosecutors believe that Shi Qiren's refusal to plead guilty and poor attitude have caused significant damage, and they are seeking a 25-year prison sentence from the court.