Taiwan Ciaotou District  Prosecutors Office  Press Release

Issue Date: November 18, 2025

Contributor: Yu-Shan Yan ,Deputy Chief Prosecutor

The Ciaotou District Prosecutors Office Prosecutes Fake Crypto-Dealer Fraud Ring Case

The Ciaotou District Prosecutors Office recently received recently received multiple cases in which victims were defrauded while investing in virtual currency. Chief Prosecutor Chang Chun-Hui instructed Director Prosecutor of the Telecommunications Fraud Prevention and Investigation Center, Head Prosecutors Su Heng-Yi and Prosecutor Kuo Chun-Hsin to actively conduct investigations. The special task force traced the source and discovered that the victims, after purchasing the virtual currency USDT from a fake crypto dealer controlled by the fraud group at an unreasonably inflated price that was clearly higher than the U.S. dollar exchange rate, then following the fraud group’s instructions, transferred the USDT into anonymous wallets designated. Members of the fraud ring subsequently layered and concealed the funds, resulting in substantial losses for the victims.

After analysis, it was discovered that the fraud group had successively created multiple fake crypto-dealer LINE accounts, including 'Asia Blockchain Crypto Assets,' 'Asia Digital Asset Certification Dealer,' 'CreatePay Digital Assets,' 'AsiaPay Digital Assets – Certified Dealer,' 'ABP Asia Blockchain Exchange Platform,' 'KKK Certified Dealer,' 'MoneyElma Virtual Currency Trading Platform,' 'Yawan Certified Dealer,' and 'Yawan Merchant – Blockchain Related.' They conducted transactions with 72 victims and defrauded a total of NT$68,603,523.

Starting from March 12, 2025, the prosecutor is command the Criminal Investigation Corps of the Kaohsiung City Government Police Department carried out arrests and searches targeting 15 individuals successively, including the leaders of the fraud ring, money mule, operators of the fake crypto-dealer LINE accounts, and money-laundering personnel. The prosecutor also petitioned the court to detain the ringleaders, Yang ○-Yeh and Liu ○-Chieh, and the request was approved. In addition, the special task force seized one villa (with a market value of approximately NT$38 million), more than NT$9.22 million in cash, a Porsche electric sports car, a Panerai luxury watch, and other valuable jewelry.

The investigation of the case was concluded by the prosecutors on November 3, 2025. A total of 15 defendants belonging to the fake crypto-dealer fraud ring were indicted respectively under Article 44, Paragraph 3 and Paragraph 1, Subparagraph 1 of the Fraud Crime Hazard Prevention Act, as well as the latter part of Article 19, Paragraph 1 of the Money Laundering Control Act. Considering that defendants Yang ○-Yeh and Liu ○-Chieh were the leaders of the fraud ring, and that they recruited money mule, causing numerous victims to suffer losses, yet still argued that they were legitimate crypto dealers during the investigation, repeatedly denying their crimes without remorse and displaying poor attitudes, the prosecution requests that the court impose a severe sentence of 20 years’ imprisonment. As for the other members of the fraud ring, the prosecution requests that the court impose sentences of no less than 6 years’ imprisonment as a means of punishment and deterrence.

Chief Prosecutor Chang Chun-Hui stated that the Telecommunications Fraud Prevention and Investigation Center of the office, in accordance with the guidelines set forth in the Executive Yuan’s New Generation Anti-Fraud Strategy Action Plan 2.0, rigorously combats fraud and money laundering crimes. At the same time, it actively seizes criminal proceeds and ensures the restitution of illicit gains, enabling victims to recover their losses as soon as possible and safeguarding the property of the public.

News No. 2025111801