Coinspeaker
Taiwanese Prosecutors Indict ACE Exchange Founder for $10.6M Crypto Fraud

Taiwanese authorities have indicted David Pan, the founder of Taiwan’s digital assets trading platform ACE Exchange, for his alleged involvement in a crypto-related fraud case. The defendant, along with six other suspects, is currently facing charges of money laundering and other crimes stemming from losses of 340 million New Taiwan dollars valued at around $10.6 million.

According to an official statement released earlier this week, prospectors issued the indictment on April 8 following the arrest of Pan in January 2024.

ACE Exchange Founder Indicted for Crimes

The ACE founder was arrested along with 14 others during a raid conducted by Taipei City police at several locations in the country, including ACE’s headquarters.

Before the raid, poli...