Taiwan authorities have arrested an individual suspected of laundering a record 10.4 billion Taiwanese dollars ($320 million) via digital assets. This marks the largest single case of crypto-related money laundering in the island nation’s history.
Identified only by the surname Qiu, the suspect was arrested in June upon his return from a trip to Southeast Asia, according to Taichung’s Criminal Investigation Bureau and local media.
The case emerged from an investigation initiated last year into a fake securities trading app. A probe led authorities to trace financial transactions, ultimately revealing Qiu’s alleged involvement in the scheme.
Law enforcement officials report that…
Read more on Blockworks