Taiwan Sentences BitShine Ringleader to 22 Years for Fraud and Money Laundering

A Taiwan court has sentenced the ringleader of the BitShine cryptocurrency operation to 22 years in prison for fraud, illegal virtual-asset services and money laundering.

The Shilin District Court found that the network worked with scam groups and laundered more than NT$2.3 billion between January 2024 and April 2025. Authorities identified 1,539 victims whose combined losses exceeded NT$1.27 billion.

The judgment followed a lengthy trial in which hundreds of witnesses were called. The case highlights the role of over-the-counter and storefront crypto services in converting scam proceeds and moving funds outside regulated channels.

Sources: The Block; TVBS.