A group of Bitcoin fraudsters reportedly defrauded more than 1,000 Taiwanese | Bitcoin,Crypto and Blockchain news and dictionary

A group of Bitcoin fraudsters reportedly defrauded more than 1,000 Taiwanese

In Taiwan, a group of Bitcoin fraudsters reportedly defrauded more than 1,000 Taiwanese investors for $ 51 million with a promise of high yield.

A group of Bitcoin fraudsters in Taiwan’s capital, Taipei , were accused of defrauding domestic and foreign investors millions of dollars.

According to FocusTaiwan, officials accused a man, 47 years of age, with his six accomplice Lin, who opposed Taiwan’s Banking and Multi-Level Marketing Supervision Law, through a fraudulent Bitcoin investment fraud.

The police said that since October 2016, Lin and his partners have raised $ 51 million from over 1,000 Taiwanese investors. The fraudsters were also accused of defrauding the citizens of neighboring China.

The Ponzi plan, which was built up, promised up to 355 per cent with just one year of Bitcoin investment. Prosecutors reported that most traders have not seen any returns in this period of time, and that ultimately, any kind of return is completely stopped.

Tokyo police arrested eight people accused of a similar fraud in November. It was claimed that these eight people were collecting $ 68 million from more than 6,000 investors with high yields of crypto money. In the same period, a $ 33 million Bitcoin fraud was detected in the Philippines.

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