The mastermind behind the BITGIN money laundering case has been indicted in Taiwan, with the amount involved exceeding NT$150 million.

PANews reported on March 15th that, according to UDN, Taiwanese prosecutors have indicted 10 people, including Liu Yusen, head of the defunct cryptocurrency exchange "BITGIN," CEO Zhang Hansen, and COO Zhang Yuting (Zhang Hansen's sister, who was also indicted in connection with the NT$274.6 billion money laundering case involving gold tycoon Tu Chengwen, head of Ruisen Jewelry Stores). The Zhang siblings may face up to 12 years in prison. Prosecutors allege that the company collaborated with a fraud ring in 2023, providing USDT and cooperating with "fake cryptocurrency dealers" to conduct fraud and money laundering through in-person cash transactions. The case involved 46 victims, with the amount defrauded exceeding NT$150 million. The funds were transferred through cryptocurrency wallets and overseas exchanges to conceal their origin.