Analyzing Crypto Crimes / Solving the First Crypto Robbery - Wu Po-Hsi: Crime Patterns Have Become More Diverse
Eight years after Taiwan's first Bitcoin robbery, a police official looks back at the case and explains how cryptocurrency crimes have evolved from traditional robberies to sophisticated frauds.
📋 Article Processing Timeline
- 📰 Published: April 19, 2026 at 09:55
- 🔍 Collected: April 19, 2026 at 11:00 (1h 5m 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. Taiwan's first case occurred 8 years ago in Taichung City. Wu Po-Hsi, the police officer in charge of the investigation at the time, said that this Bitcoin robbery was still a traditional robbery method, but in recent years, crime patterns have become more diverse with fraud cases.
Crime types change with social development and the evolution of financial technology. Robberies have also expanded from robbing banks and jewelry stores in the past to the cryptocurrency robberies often heard of in recent years.
Wu Po-Hsi, currently the director of the Public Relations Office of the Criminal Investigation Bureau, was the captain of the investigation team of the First Police Precinct of Taichung City. During his tenure, he solved the nation's first cryptocurrency robbery in February 2018.
Recalling the case that year, Wu told a CNA reporter that the incident happened on the eve of the Lunar New Year. People reported that someone seemed to be causing trouble after drinking on Zhongqin Street in the West District. When officers arrived, they found a man surnamed Huang, a man surnamed Dai, and his male employee, totaling 3 people. Huang initially claimed he had a conflict while drinking with friends and would settle it privately, attempting to evade police investigation.
Wu said the officers noticed the scene was messy, with traces of a fight and blood, and believed the matter was not simple, immediately launching an in-depth investigation.
Wu stated that the police investigation revealed this was not a drunken brawl, but a Bitcoin robbery. A man surnamed Xiao with a fraud record, to obtain illegal benefits, conspired with Huang, a man surnamed Shi, and a man surnamed Lin to commit the crime. Through an online cryptocurrency community platform, they falsely claimed to want to buy Bitcoin, thereby getting to know the victim, Dai, who worked in the IT industry.
Huang and others set a trap, inviting Dai to come south for a face-to-face transaction, and even took a selfie showing NT$5 million in a safe beforehand to gain Dai's trust.
Dai, suspecting nothing, took a car with his male employee to Huang's rented place in Taichung for the transaction. Unexpectedly, just as Dai showed his phone displaying his Bitcoin holdings, he was beaten and controlled by Huang and others. His phone was snatched, and the 18 Bitcoins (worth about NT$5 million at the time) Dai held were immediately transferred out.
Xiao and the others got Dai and his employee drunk and left, leaving only Huang to stand guard. It wasn't until he noticed the police arriving that Huang intentionally smashed himself with a wine bottle, lying about a drunken dispute to evade investigation.
Fortunately, the net of justice is wide. After uncovering the truth, the police immediately arrested Huang and pursued the accomplices overnight with an arrest warrant, intercepting Lin in Kinmen as he tried to flee to China via the Mini Three Links.
In addition, the police discovered through digital evidence that Shi went shopping in Taipei after the crime and was taking the last high-speed rail train on New Year's Eve to return to Taichung. After inspecting the carriages one by one, they arrested Shi in front of the carriage door after passing Miaoli station, seizing over NT$120,000 in cash. The next day, they followed leads and arrested Xiao in Nantun District, Taichung City.
Wu Po-Hsi said the 18 stolen Bitcoins were traced to an unknown account in China and were difficult to recover. Although they suspected there was a mastermind behind the scenes, the arrested suspects had set up breakpoints and did not give up the mastermind. With limited evidence, it was difficult for the police to trace back and find the hidden figure.
He analyzed that although this case involved cryptocurrency, the criminal method did not depart from traditional robbery. The suspects pretended to be buyers, invited the seller for a face-to-face transaction under the guise of buying Bitcoin, and then controlled and robbed them.
Wu stated that in recent years, cryptocurrency transaction crime patterns have become more diverse. Suspects pretend to be sellers, disappear after victims remit money, and do not trade the cryptocurrency. Or they pretend to be buyers, and after victims transfer cryptocurrency to the suspect's wallet, they fail to fulfill the transaction, deliver the money, or provide forged remittance proofs.
Wu said these methods all refer to suspects using fraudulent tactics (such as setting up fake accounts, forging credit records) to induce victims to fulfill contracts, but the suspects fail to fulfill the corresponding obligations, thereby illegally obtaining others' property, which may involve fraud.
Wu analyzed that cryptocurrency transfer and money laundering are very fast. They can be transferred 4 or 5 layers within a short time, and finally transferred to an exchange to be directly exchanged for cash. It is difficult for victims to recover their money. If you want to invest in or trade cryptocurrency, it is safer to prioritize using formal domestic exchanges. (Editor: Xiao Bowen) 1150419
Crime types change with social development and the evolution of financial technology. Robberies have also expanded from robbing banks and jewelry stores in the past to the cryptocurrency robberies often heard of in recent years.
Wu Po-Hsi, currently the director of the Public Relations Office of the Criminal Investigation Bureau, was the captain of the investigation team of the First Police Precinct of Taichung City. During his tenure, he solved the nation's first cryptocurrency robbery in February 2018.
Recalling the case that year, Wu told a CNA reporter that the incident happened on the eve of the Lunar New Year. People reported that someone seemed to be causing trouble after drinking on Zhongqin Street in the West District. When officers arrived, they found a man surnamed Huang, a man surnamed Dai, and his male employee, totaling 3 people. Huang initially claimed he had a conflict while drinking with friends and would settle it privately, attempting to evade police investigation.
Wu said the officers noticed the scene was messy, with traces of a fight and blood, and believed the matter was not simple, immediately launching an in-depth investigation.
Wu stated that the police investigation revealed this was not a drunken brawl, but a Bitcoin robbery. A man surnamed Xiao with a fraud record, to obtain illegal benefits, conspired with Huang, a man surnamed Shi, and a man surnamed Lin to commit the crime. Through an online cryptocurrency community platform, they falsely claimed to want to buy Bitcoin, thereby getting to know the victim, Dai, who worked in the IT industry.
Huang and others set a trap, inviting Dai to come south for a face-to-face transaction, and even took a selfie showing NT$5 million in a safe beforehand to gain Dai's trust.
Dai, suspecting nothing, took a car with his male employee to Huang's rented place in Taichung for the transaction. Unexpectedly, just as Dai showed his phone displaying his Bitcoin holdings, he was beaten and controlled by Huang and others. His phone was snatched, and the 18 Bitcoins (worth about NT$5 million at the time) Dai held were immediately transferred out.
Xiao and the others got Dai and his employee drunk and left, leaving only Huang to stand guard. It wasn't until he noticed the police arriving that Huang intentionally smashed himself with a wine bottle, lying about a drunken dispute to evade investigation.
Fortunately, the net of justice is wide. After uncovering the truth, the police immediately arrested Huang and pursued the accomplices overnight with an arrest warrant, intercepting Lin in Kinmen as he tried to flee to China via the Mini Three Links.
In addition, the police discovered through digital evidence that Shi went shopping in Taipei after the crime and was taking the last high-speed rail train on New Year's Eve to return to Taichung. After inspecting the carriages one by one, they arrested Shi in front of the carriage door after passing Miaoli station, seizing over NT$120,000 in cash. The next day, they followed leads and arrested Xiao in Nantun District, Taichung City.
Wu Po-Hsi said the 18 stolen Bitcoins were traced to an unknown account in China and were difficult to recover. Although they suspected there was a mastermind behind the scenes, the arrested suspects had set up breakpoints and did not give up the mastermind. With limited evidence, it was difficult for the police to trace back and find the hidden figure.
He analyzed that although this case involved cryptocurrency, the criminal method did not depart from traditional robbery. The suspects pretended to be buyers, invited the seller for a face-to-face transaction under the guise of buying Bitcoin, and then controlled and robbed them.
Wu stated that in recent years, cryptocurrency transaction crime patterns have become more diverse. Suspects pretend to be sellers, disappear after victims remit money, and do not trade the cryptocurrency. Or they pretend to be buyers, and after victims transfer cryptocurrency to the suspect's wallet, they fail to fulfill the transaction, deliver the money, or provide forged remittance proofs.
Wu said these methods all refer to suspects using fraudulent tactics (such as setting up fake accounts, forging credit records) to induce victims to fulfill contracts, but the suspects fail to fulfill the corresponding obligations, thereby illegally obtaining others' property, which may involve fraud.
Wu analyzed that cryptocurrency transfer and money laundering are very fast. They can be transferred 4 or 5 layers within a short time, and finally transferred to an exchange to be directly exchanged for cash. It is difficult for victims to recover their money. If you want to invest in or trade cryptocurrency, it is safer to prioritize using formal domestic exchanges. (Editor: Xiao Bowen) 1150419