Kaohsiung Police Arrest Fraud Suspect in Cryptocurrency Scam

Police in Kaohsiung, Taiwan, arrested a 55-year-old woman, surnamed Hsieh, following a sting operation involving a fraudulent cryptocurrency investment scheme. The arrest occurred on October 24 in a park in the Qianzhen District after Hsieh arrived to collect a cash payment.

The investigation began after a 60-year-old woman reported losing nearly 3 million TWD through a fake investment application. The victim had made six separate cash handovers before the scammers demanded an additional 700,000 TWD, claiming it was necessary to settle a “violation of investment regulations” to release her original funds.

Working with the victim, officers staged an ambush using 700,000 TWD in bait money. Upon being confronted, Hsieh initially denied the transaction, reportedly telling officers, “Be quiet! Why are you being so loud?” However, police discovered the bait money inside her backpack. Hsieh claimed she was merely collecting money on behalf of a friend but could not provide details regarding the identity of the requester. She has been referred to the Kaohsiung District Prosecutors Office on suspicion of fraud and money laundering.