Shi Qiren, leader of CoinThink Technology in Taiwan, was sentenced July 20 to 22 years for defrauding 1,539 victims out of $39M. The gang posed as the only FSC-authorized exchange, funneled victims’ cash into USDT through organized crime networks, and laundered $71M total.
14 people indicted. Shi can still appeal. 640,000 USDT and $3M+ in assets seized.
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