Taiwanese authorities have wrapped up a major investigation into one of the country’s most high-profile crypto-related fraud cases, filing charges against 14 individuals linked to the BitShine exchange.

Prosecutors allege the group conspired with criminal networks to siphon NT$1.27 billion (approximately $41 million) from more than 1,500 victims through a scheme that combined fraudulent investment pitches with unlicensed cryptocurrency operations.

According to Taiwan’s Central News Agency, BitShine operated under the cover of legitimacy, having reportedly passed financial compliance checks , while using its brand to conceal the activities of another firm, Biying Technology, which had not been approved by regulators.

Investigators allege that the two entities worked in tandem to funn

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