The mastermind of a major cryptocurrency scam operating under the name Cointhink Technology has been sentenced to 22 years in prison after a network defrauded over 1,500 investors out of more than $37.14 million (NT$1.2 billion). The Shilin District Court on July 20 handed down the sentence to the main suspect, identified only by his surname, Shih.

Fourteen individuals in total were reportedly indicted in connection with the criminal operation on charges that included violating the Fraud Crime Prevention Act. According to an investigation spearheaded by the Shilin District Prosecutors Office, the fraudulent group lured investors by falsely advertising Cointhink Technology as “the only platform authorized by the Financial Supervisory Commission” in Taiwan.

Operating in tandem with organized gang elements, the group channeled targets through a web of fake investment groups. Gang members guided victims to purchase the tether tokens with physical cash, which was then systematically laundered. Prosecutors revealed that the group converted the illicit cash into U.S. dollars and transferred it to offshore accounts to conceal the paper trail.

In a secondary layer of the scheme, victims were instructed to transfer their existing USDT tokens to designated digital cold wallets. The gang then moved the cryptocurrency through multiple layered transfers to create intentional “breakpoints,” effectively blinding law enforcement tracking and hiding the origin of the proceeds.

Data released by prosecutors showed that between January 2014 and April 2015, the syndicate managed a massive money laundering pipeline moving more than $71.3 million in total volume. In total, 1,539 people fell victim to the operation.

The indictment against Shih, who can still appeal the verdict, and his 13 co-conspirators was initially filed last August by the Shih-chung District Prosecutors Office, which actively requested the total confiscation of all ill-gotten gains.

Though prosecutors originally recommended a combined 25-year prison term, the Shilin District Court ultimately settled on the 22-year sentence.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。