David Vance

when

Coin

<ul class="news-points">
 <li>ACE Exchange upholds operational integrity despite founder’s indictment.</li>
 <li>Alleged fraud scheme underscores cryptocurrency investment risks.</li>
 <li>David Pan’s legal issues prompt scrutiny of the crypto industry’s governance.</li>
</ul>
<a href="https://coinedition.com/prosecutors-request-detention-of-ace-exchange-president-amid-fraud-probe/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">Taiwanese prosecutors</a> have recently indicted David Pan, the founder of ACE Exchange, along with six other suspects, on charges of money laundering and fraud involving assets worth at least $10.7 million. The <a href="https://www.tcc.moj.gov.tw/media/354574/%E8%87%BA%E4%B8%AD%E5%9C%B0%E6%AA%A2%E7%BD%B2%E5%81%B5%E8%BE%A6%E7%8E%8B%E7%89%8C-ace-%E7%AD%89%E5%85%AC%E5%8F%B8%E6%B6%89%E5%AB%8C%E6%B4%97%E9%8C%A2%E7%AD%89%E6%A1%88%E4%BB%B6-%E7%B6%93%E6%AA%A2%E5%AF%9F%E5%AE%98%E5%81%B5%E6%9F%A5%E7%B5%82%E7%B5%90%E6%8F%90%E8%B5%B7%E5%85%AC%E8%A8%B4.pdf?mediaDL=true" target="_blank" rel="noopener noreferrer nofollow">allegations</a> revolve around the establishment of an offshore entity purportedly offering a service dubbed the “Alfred Wallet,” which allegedly enticed investors to deposit their stablecoin into these wallets. Subsequently, the suspects are accused of transferring and laundering these assets.
The <a href="https://coinedition.com/taiwanese-prosecutors-arrest-jpex-taiwan-office-head-for-fraud/" rel="noopener noreferrer nofollow">victims</a> of this alleged scam reportedly discovered they had been defrauded when they were unable to withdraw assets from their wallets. According to prosecutors, the group targeted at least 162 individuals and involved over NT$342 million ($10.7 million).&nbsp;
ACE Exchange has sought to distance itself from the accusations, asserting that Pan, while a former executive, was not involved in ACE’s o…
The post <a href="https://coinedition.com/ace-exchange-founder-indicted-for-money-laundering-and-fraud/" rel="noopener noreferrer nofollow">ACE Exchange Faces Turmoil as Founder David Pan’s Troubles Deepen</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

ACE Exchange Faces Turmoil as Founder David Pan’s Troubles Deepen

Coin Edition

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