CoinW exchange has been implicated in a major money laundering operation involving NT$2.3 billion and over 1,500 victims. The Shilin District Prosecutor's Office in Taiwan has concluded its investigation, leading to the indictment of 14 individuals, including Shi Qiren, the founder of CoinW. Authorities seized 640,000 USDT, Bitcoin, TRX, and other assets during the investigation. Shi Qiren has been charged with organized crime, aggravated fraud, and money laundering, resulting in a 25-year prison sentence. Other individuals involved in the case have been recommended for lighter sentences or probation.