MyCoin Ponzi Scheme, Taiwan Cops Net Two More

MyCoin was one of the biggest scams to hit the shores of Hong Kong this year. The alleged bitcoin exchange based out of Hong Kong was in fact an elaborate Ponzi scheme that successfully managed to rip off over $387 million dollars in customer investments after they shut shop overnight earlier this year.

Many South East Asian and Chinese investors were victims of this Ponzi scheme, which has got the police forces in multiple countries conducting their own investigations to ensure justice is served. Hong Kong was the first to counter some success in March after the cops there managed to arrest six people who were allegedly connected to the scam. Now as the investigation continues, the Criminal Investigation Bureau in Taipei, Taiwan has arrested two people, Lu Kaun-wei and Chen Yun-fei for their alleged involvement in MyCoin scam.

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READ MORE: Hong Kong Police Arrests Suspects Involved in MyCoin Bitcoin

Upon arrest, the duo were charged for being part of the MyCoin fraud. Both Lu and Chen were allegedly responsible for organizing several events for MyCoin across Taiwan. During these events they had convinced investors to create

Read more ... source: TheBitcoinNews