The Chinese newspaper, China Times, has reported that on August 20, 2015, Taiwanese police arrested two suspects who allegedly scammed investors out of $1 billion NT, equivalent to $30.6 million USD. Lu Kuan-wei and Chen Yun-fei were arrested after the Criminal Investigation Bureau in Taipei received a number of complaints about fraud from victims.
Editor’s Note: To be clear, Mycoin was a ponzi scheme that fronted as a Bitcoin exchange. Additionally, it needs to be noted that MyCoin is not Maicoin, a legal Taiwanese Bitcoin exchange.
In February 2015, the Hong Kong Commercial Crime Bureau (CCB) conducted a preliminary investigation into alleged unlawful activities that may have occurred at MyCoin, a now-defunct Bitcoin exchange. The investigation revealed that 43 investors between the ages of 21 and 71 years old lost anywhere between $50,000 HK to $15m HK each when the exchange ceased operations.
MyCoin’s Abrupt Shut Down in February 2015
Read more ... source: Bitcoinist