Bitgin faces investigation for money laundering

Bitgin, a Taiwanese cryptocurrency exchange, is under investigation by the country’s police force for money laundering. It is believed that Yuting Zhang, chief operating officer, was arrested by Taiwanese police for his alleged role in the “Eighty-Eight Guild Hall” money laundering incident, stated Cointelegraph. Sources revealed that Tu was also accused of defrauding the country’s tax authorities by claiming 300 million New Taiwan dollars in fraudulent export tax refunds through the overseas sale of video game credits, Cointelegraph added. Furthermore, Bitgin is expected to have mentioned that Zhang stopped all communications with the counterparties.

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