Crypto Exchange BITGIN Money Laundering Ringleader Indicted in Taiwan, Zhang Siblings May Face 12 Years in Prison

BlockBeats News, March 15th. According to UDN, the Taiwan, China prosecutor has indicted a defunct cryptocurrency exchange "BITGIN" and the Bijing Technology company's leader, Liu Yuxin, CEO Zhang Hansun, and COO Zhang Yuting (Zhang Hansun's younger sister, also implicated in the Yangsheng Group's money laundering of 274.6 billion yuan involving the gold tycoon, Ruisen Jewelry responsible person Tu Chengwen) and 10 others, where the Zhang siblings may face a 12-year sentence.

The prosecution alleges that the company collaborated with a fraud group in 2023 to engage in fraud and money laundering by providing USDT and facilitating cash transactions with "counterfeiters" offline. The case involved 46 victims, with the fraud amount exceeding NT$ 150 million, and the related funds were transferred through cryptocurrency wallets and overseas exchanges to conceal their source.