A Taiwanese court has ruled that the property of Ace Exchange founder David Pan and others involved in the case will be confiscated.
Prosecutors in Taiwan are taking action against David Pan, the founder of Ace Exchange, a local cryptocurrency trading platform.
According to an official statement by prosecutors, Pan was indicted alongside six other suspects on April 8. Prosecutors charged him with money laundering and fraud, which led to losses of 340 million New Taiwan dollars ($10.6 million).
The Taipei City police previously arrested Pan and 14 others allegedly involved in the case in January 2024 following raids on several locations, including Ace’s headquarters.
