Taiwan prosecutors indict 14 in BitShine, CoinW case involving NT$2.3 billion in laundered funds

Taiwan's Shilin District Prosecutors Office has indicted 14 individuals tied to BitShine, BiXiang Technology and the CoinW brand for laundering approximately NT$2.3 billion and defrauding more than 1,500 victims of around NT$1.275 billion, court records show. Prosecutors allege that cash was converted into crypto assets including Tether (USDT) under fraud, money laundering and organized crime statutes, while dismissing claims of a separate "Bitgin" platform or NT$150 million mastermind case, BTCC.com and the prosecutors office said. Taiwan has tightened anti-money laundering oversight for Virtual Asset Service Providers, now requiring VASP registration, and authorities urge investors to verify the legal entity and regulatory status behind exchange brands and scrutinize cash-to-crypto conversion patterns, according to the Ministry of Justice.