Taiwan has recently experienced a large-scale virtual currency fraud case involving the local exchange ACE and the overseas exchange ProExchange. Social media communities have discovered that several platforms of ProEx exchange have become inaccessible, indicating that the exchange may have absconded.
Background:
ACE Exchange involved in garbage coin fraud: Victims urged to report to the New Taipei City Criminal Investigation Bureau: Confiscated funds will be returned if there is sufficient evidence, including Moquan Coin, FITC, COR… (with reporting tutorial)
Table of Contents:
Is ProEx Exchange deceiving investors?
Complete process for victims to report cases
1. Fill out the Google online form
2. Go to the police station to make a statement
3. Leave the case number in the self-help community notebook
The New Taipei City Criminal Investigation Bureau strongly urges victims to protect their rights
Taiwan recently experienced a large-scale fraud involving garbage coins (such as MOCT, NFTC, CSO, FIT, etc.), which implicated the local ACE cryptocurrency exchange and the overseas exchange ProExchange. With an increasing number of victims reporting cases, ProEx exchange’s multiple community platforms have been found to be inaccessible by the community, suggesting that the exchange may be preparing to abscond.
Facebook:
Closed
Discord:
Invitation link invalid
IG: No updates in the past week
Telegram: No official personnel managing
Telegram community dialogue
Facebook link invalid
According to ProEx’s official explanation, the exchange is based in Singapore and has obtained the Singaporean 3A-level KYC standard and dual licenses from the United States and Canada. However, according to WikiBit data, ProEx’s financial license does not authorize it to operate a cryptocurrency exchange, making it an out-of-scope operation that carries risks.
Previously, anonymous individuals on social media criticized ProEx as not being a real exchange but a scam operation specifically targeting Taiwanese buyers.
It is understood that the tokens most commonly traded by Taiwanese investors on ProEx exchange include QAS, CSO, CFO, BNAT, FITC, etc., all of which fall under the category of investment fraud projects as identified by the New Taipei City Criminal Investigation Bureau. Currently, ProEx’s official website’s exchange activity pages for CSO and Fitc tokens are no longer accessible or exchangeable.
This fraud case has had a wide-ranging impact. If you are a victim of related tokens, please follow the process below and report to the police station as soon as possible.
First, confirm whether the virtual currency involved in the investment fraud includes “NFTC,” “BNAT,” “MOCT,” “SOLA,” “CSO,” “QQQ,” “QAS,” “PT,” “DS,” “BAAS,” “DEC,” “DET,” “FITC,” “COR.”
If confirmed, please fill out the Google form to describe the case. Form link: [Google form link]
To expedite the process, you can first visit the 165 website to fill out the report form. [165 report form link] Then go to the police station to make a statement. If the officer in charge is not clear about the situation, ask them to contact the “fraud business investigator in the local branch’s investigation team” or provide the official document number 1134431464.
Online reporting is only for fraud reporting, and a statement must still be made at the police station to complete the formal reporting process.
The nine key points that the police statement will inquire about (provided by the New Taipei City Criminal Investigation Bureau) are as follows:
– When did the transaction take place?
– Which business did you transact with?
– How many tokens did you purchase?
– What type of air coin was it?
– Did the other party use any social media platform accounts?
– Can you identify them?
– How did you transfer the funds to the other party?
– Can you provide the other party’s bank account?
– What is your cryptocurrency wallet address? What is the business’s wallet address?
PS: You can first check the following public ledgers:
Etherscan: [Etherscan link]
BSCScan: [BSCScan link]
Did the business promise returns within a certain period through oral, phone, video, or written communication? Did they mention any famous individuals or companies showing interest or participating in the investment of a certain token? For example, saying that it will definitely rise like Bitcoin in the future, or that a famous person is interested in a certain token and wants to invest, or that a large company has investment projects in progress.
Did the business send you links to positive online news articles from media outlets such as Minsheng Media, Potato Media, Chain News, etc., regarding the tokens involved in the case? Note: Many Line News and Yahoo News articles originate from these media outlets, so please check the source and journalist in the top left corner before reading.
Were Ace and ProEx exchanges recommended by the business? Did you experience any issues with normal withdrawals or deposits on these exchanges? Did withdrawals require system approval? Were you informed of when your invested air coins would be listed on the exchange but faced repeated delays?
Did the business inform you of any products, beauty treatments, amusement experiences, or other redemption mechanisms associated with the token, but you were unable to redeem them, or the amount and products available differed significantly from what the business claimed?
Did the business provide and explain the whitepaper for the air coin you purchased? Is there a discrepancy between the whitepaper and the actual product?
When the business sold you token A, did they claim that the stock of A was insufficient and instead sold you token B? Did they provide and explain the whitepaper for token B?
How much financial loss did you suffer in this case? Have you filed criminal complaints against the business and the controlling group for fraud, money laundering, or violations of banking laws (fundraising), along with a request for civil compensation?
Please prepare the following evidence before going to the nearby police station to report the case (provide as much as possible to avoid having to supplement later):
– Purchase receipts or contracts
– Records of receiving air coins on your wallet address in public ledgers
– Records of remittances or withdrawals
– Profile pictures and photos of the business on social media platforms, and their statements (highlight the key points, or provide a text file if it is an audio recording)
– Other relevant attachments related to the case
Remember to remind the handling officer to upload the case materials to the “165 Anti-Fraud Platform” and leave a message in the self-help community LINE notebook with the name of the police station where the case was reported, the case number, and the 165 case number. Thank you for your cooperation.
Leave the case number in the self-help community notebook
Finally, you can join the LINE group “ICO Fraud (MOCT, BNAT, NFTC, CSO, FITC) Joint Lawsuit Self-Help Group” or scan the QR code below to log in. In the group, you can see the latest progress and seek advice from the responsible personnel at the New Taipei City Criminal Investigation Bureau.
Please leave a message in the self-help LINE group notebook with the name of the police station where you reported the case, the case number, and the 165 case number.
Some victims may be worried that filing a lawsuit will require valuable time and energy, without guaranteeing a successful outcome, so they choose to silently bear the frustration. In response to this, the New Taipei City Criminal Investigation Bureau stated to Dynamic District:
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