Recently, a major Money Laundering case involving Virtual Money transactions in Taiwan has attracted widespread attention. The "Coin Dream Exchange," which operated physical stores in multiple locations in Taiwan, has been found to be suspected of Money Laundering, with an amount as high as 2.3 billion New Taiwan Dollars (approximately 510 million RMB). After an investigation, the case was concluded today, and 14 core members, including the person in charge, have been prosecuted by the authorities.

The case is being investigated by Chief Prosecutor Luo Wei-yuan of the Shilin District Prosecutors Office. The investigation shows that "CoinX Technology" company is suspected of colluding with a fraud gang to carry out large-scale Money Laundering activities. The company was previously recognized by the Financial Supervisory Commission and was listed among the virtual money operators for anti-money laundering, subsequently establishing about 45 franchise outlets across Taiwan, promoting the slogan "Purchase coins in-store."

Since April, the police have been conducting searches on multiple entities of "Coin Idea Technology". During the operation, law enforcement seized over 640,000 USDT, 0.0356 Bitcoin, 1,520 TRX and other virtual money, equivalent to approximately 20 million New Taiwan dollars. In addition, they also confiscated 60.49 million New Taiwan dollars in cash, as well as a Ferrari and a Maserati supercar. Together with the 12.4 million New Taiwan dollars in the company account, the total assets involved amount to approximately 110 million New Taiwan dollars.

According to the prosecution, the main suspect Shi Qiren has ties to the Tiandao Alliance. He acquired "Coin Thinking Technology" through the CoinW platform for 19.2 million USDT. Subsequently, the company used its legitimate facade to turn its physical storefronts into Money Laundering bases, facilitating fraud groups.

This case reveals the hidden risks in virtual money transactions and highlights the importance of relevant regulation. As virtual money becomes increasingly popular, finding a balance between promoting innovation and preventing risks has become a common challenge faced by regulatory authorities in various countries.