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❌ The CoinW exchange was involved in a money laundering operation amounting to 2.3 billion New Taiwan dollars.

As a result, more than 1500 people were affected.

The Shilin District Prosecutor's Office in Taiwan has completed its investigation, leading to charges against 14 individuals, including Shi Ciren, the founder of CoinW.

During the investigation, 640,000 USDT, BTC, TRX, and other assets were seized.

Shi Ciren is accused of fraud and money laundering, resulting in a sentence of 25 years in prison.