▼ Bearish
Taiwan's Shilin District Court has sentenced Shi Qiren, the ringleader of the BitShine crypto exchange, to 22 years in prison for fraud and money laundering.
Prosecutors determined that Shi led a criminal group operating under the BitShine brand, which defrauded over 1,500 victims of more than NT$1.27 billion (approximately $39 million). The operation involved laundering around $75 million through USDT transactions.
Reporting aggregated and summarized by CLOM — research & education, not financial advice.