Taiwan Dismantles Crypto-Linked Investment Scam Syndicate

The Criminal Investigation Bureau has announced the dismantling of an organized investment fraud ring linked to cryptocurrency trading operations, following a multi-agency investigation that resulted in 22 arrests.

The case was directed by the New Taipei District Prosecutors Office and jointly investigated by the Ninth Investigation Corps of the Criminal Investigation Bureau, alongside police forces from New Taipei City, Taipei City, and other jurisdictions. Authorities seized cash and related evidence, disrupting the syndicate's financial network.

Police said the investigation began after analysis by the 165 Anti-Fraud Hotline system identified a pattern of investment scams using online dating and fabricated romantic relationships to gain victims' trust. Victims were then directed to fraudulent cryptocurrency trading sites controlled by the criminal group, where they were persuaded to purchase virtual assets and transfer them to designated digital wallets.

Further investigation revealed that the fake trading platforms were operated by gang leaders working with multiple gang members and cooperating with overseas fraud organizations. Scam centers abroad carried out the initial deception, while domestic members collected illicit proceeds and converted them into cryptocurrency to obscure money trails.

After months of evidence collection, authorities conducted phased raids between July and October 2025. These operations led to the arrest of core suspects and accomplices and the seizure of cash, drugs, gang-related items, and large volumes of communication and computer equipment.

The Criminal Investigation Bureau has urged the public to remain cautious when approached with investment opportunities by online acquaintances. It advised investors to use only legitimate and transparent trading platforms and to verify suspicious offers through the 165 Anti-Fraud Hotline before transferring funds.