Analyzing Crypto Crimes / Crypto Robbery Becomes an Emerging Crime - Criminal Investigation Bureau: Related to Fake Investment Fraud
Cryptocurrency robberies are frequent, with over 10 incidents nationwide in half a year. Police say these crimes are related to fake investment scams and expect the 'Virtual Asset Services Act' to help regulate the market.
📋 Article Processing Timeline
- 📰 Published: April 19, 2026 at 09:54
- 🔍 Collected: April 19, 2026 at 11:00 (1h 6m after Published)
- 🤖 AI Analyzed: April 19, 2026 at 11:15 (15 min after Collected)
(CNA Reporter Huang Li-yun, Taipei, 19th) Cryptocurrency robberies are frequently reported, with over 10 incidents occurring nationwide in the past six months, and Taipei City even saw 3 incidents within 4 days. A police officer from the Criminal Investigation Bureau stated that this type of crime is related to fake investment fraud, and the implementation of the "Virtual Asset Services Act" is expected to effectively regulate it.
In March of this year, three cryptocurrency robberies occurred in succession within just 4 days in Taipei's Datong, Shilin, and Wenshan districts, drawing public attention. The police have not yet conducted specific statistics on this crime type, but based on media reports, there were about 11 cryptocurrency robberies nationwide from October last year to March this year, with as many as 6 in Taipei City alone.
Chang Chia-hsun, a police officer in the Prevention Division of the Criminal Investigation Bureau of the National Police Agency, told a CNA reporter that current fake investment frauds are often accompanied by cryptocurrency transactions. After successfully deceiving a victim, fraud rings guide the victim to use investment cash to buy cryptocurrency via over-the-counter (OTC) trades. If 100 fake investment cases occur in a single month, it is estimated that nearly 30% of them are related to cryptocurrency disputes.
Chang Chia-hsun analyzed that crypto transaction crime patterns can be divided into three types: cash being robbed, the other party disappearing after cryptocurrency is transferred out, and novices with trading experience knowing how to invest but handing it over to others to operate, only to have the person disappear and lose their money.
He gave an example: most victims report that after joining a fake investment group, the fraud ring introduces cryptocurrency investment and refers a "partner coin dealer" for low or no transaction fees. To avoid strict account controls by the Financial Supervisory Commission (FSC) and bank tellers asking questions that prevent remittances, the fraud ring advises victims to directly give cash to the "partner coin dealer" so as not to miss investment opportunities.
Many people, eager to invest and not wanting to be questioned, believe the fraud ring's rhetoric. Chang Chia-hsun said that in the past, most victims were young or middle-aged office workers, but in recent years, there has been an upward trend in seniors being defrauded. Some victims are strong-willed and refuse advice. Even when facing unfamiliar investment tools, they think it's fine as long as profit is guaranteed, and they find caring bank tellers annoying.
Chang Chia-hsun stated that when a fraud ring has deceived a victim and set up a fake coin dealer for OTC trading, if some members are greedy for more profit, they will premeditate stealing the money (black eating black). Even if the fake investment trade fails because of this, the ones executing the internal theft would rather obtain more cash or cryptocurrency this way.
He believes the problem of cryptocurrency robberies will continue to rise because cases of fraud rings double-crossing each other are increasing, and the amount stolen from victims or face-to-face mules is also growing. But there is no such thing as preventing robbery here, because cryptocurrency inherently shouldn't be traded OTC, and since trading locations are privately arranged by both parties, there are no so-called hot spots.
When "black eats black" incidents happen, the main victims are the public. Chang Chia-hsun said that besides being cheated, victims might also get hurt or even have their lives threatened during the process. Because victims are robbed during OTC trades, they are afraid even after reporting to the police. Most will not disclose the amount of financial loss or underreport it, making it difficult to accurately track data or amounts for related cases.
As for how to prevent these cases, Chang Chia-hsun said that people used to say "don't show your wealth," but nowadays many people hand a wad of cash to strangers. The public's awareness of fraud prevention is the key. In addition, the FSC has ordered that there can be no individual coin dealer behavior, but the cryptocurrency market is a global trend. The Executive Yuan has passed the draft of the "Virtual Asset Services Act," which is expected to effectively regulate the market after it takes effect.
Mr. L, who works at a well-known cryptocurrency exchange, stated that currently, coin dealers operating in Taiwan must be permitted by the FSC. The best way for people not to be deceived or robbed is to avoid offline, OTC transactions.
Mr. L said that transaction fees at formal exchanges are not high, and OTC quotes are mostly fraudulent rhetoric. "I can quote whatever exchange rate I want; the point is just to trick you into coming out," which is essentially premeditating a crime.
He said some big players want to make large trades but opt for OTC trading due to privacy concerns and causing market fluctuations. This is entirely unrelated to the OTC trading in fraud cases, where the latter is mostly about deception. However, this also reflects a lack of education on the cryptocurrency market, and Hong Kong also has many similar scam cases. (Editor: Xiao Bowen) 1150419
In March of this year, three cryptocurrency robberies occurred in succession within just 4 days in Taipei's Datong, Shilin, and Wenshan districts, drawing public attention. The police have not yet conducted specific statistics on this crime type, but based on media reports, there were about 11 cryptocurrency robberies nationwide from October last year to March this year, with as many as 6 in Taipei City alone.
Chang Chia-hsun, a police officer in the Prevention Division of the Criminal Investigation Bureau of the National Police Agency, told a CNA reporter that current fake investment frauds are often accompanied by cryptocurrency transactions. After successfully deceiving a victim, fraud rings guide the victim to use investment cash to buy cryptocurrency via over-the-counter (OTC) trades. If 100 fake investment cases occur in a single month, it is estimated that nearly 30% of them are related to cryptocurrency disputes.
Chang Chia-hsun analyzed that crypto transaction crime patterns can be divided into three types: cash being robbed, the other party disappearing after cryptocurrency is transferred out, and novices with trading experience knowing how to invest but handing it over to others to operate, only to have the person disappear and lose their money.
He gave an example: most victims report that after joining a fake investment group, the fraud ring introduces cryptocurrency investment and refers a "partner coin dealer" for low or no transaction fees. To avoid strict account controls by the Financial Supervisory Commission (FSC) and bank tellers asking questions that prevent remittances, the fraud ring advises victims to directly give cash to the "partner coin dealer" so as not to miss investment opportunities.
Many people, eager to invest and not wanting to be questioned, believe the fraud ring's rhetoric. Chang Chia-hsun said that in the past, most victims were young or middle-aged office workers, but in recent years, there has been an upward trend in seniors being defrauded. Some victims are strong-willed and refuse advice. Even when facing unfamiliar investment tools, they think it's fine as long as profit is guaranteed, and they find caring bank tellers annoying.
Chang Chia-hsun stated that when a fraud ring has deceived a victim and set up a fake coin dealer for OTC trading, if some members are greedy for more profit, they will premeditate stealing the money (black eating black). Even if the fake investment trade fails because of this, the ones executing the internal theft would rather obtain more cash or cryptocurrency this way.
He believes the problem of cryptocurrency robberies will continue to rise because cases of fraud rings double-crossing each other are increasing, and the amount stolen from victims or face-to-face mules is also growing. But there is no such thing as preventing robbery here, because cryptocurrency inherently shouldn't be traded OTC, and since trading locations are privately arranged by both parties, there are no so-called hot spots.
When "black eats black" incidents happen, the main victims are the public. Chang Chia-hsun said that besides being cheated, victims might also get hurt or even have their lives threatened during the process. Because victims are robbed during OTC trades, they are afraid even after reporting to the police. Most will not disclose the amount of financial loss or underreport it, making it difficult to accurately track data or amounts for related cases.
As for how to prevent these cases, Chang Chia-hsun said that people used to say "don't show your wealth," but nowadays many people hand a wad of cash to strangers. The public's awareness of fraud prevention is the key. In addition, the FSC has ordered that there can be no individual coin dealer behavior, but the cryptocurrency market is a global trend. The Executive Yuan has passed the draft of the "Virtual Asset Services Act," which is expected to effectively regulate the market after it takes effect.
Mr. L, who works at a well-known cryptocurrency exchange, stated that currently, coin dealers operating in Taiwan must be permitted by the FSC. The best way for people not to be deceived or robbed is to avoid offline, OTC transactions.
Mr. L said that transaction fees at formal exchanges are not high, and OTC quotes are mostly fraudulent rhetoric. "I can quote whatever exchange rate I want; the point is just to trick you into coming out," which is essentially premeditating a crime.
He said some big players want to make large trades but opt for OTC trading due to privacy concerns and causing market fluctuations. This is entirely unrelated to the OTC trading in fraud cases, where the latter is mostly about deception. However, this also reflects a lack of education on the cryptocurrency market, and Hong Kong also has many similar scam cases. (Editor: Xiao Bowen) 1150419