$1.3 Million Bitcoin Scam Swindles Victims in Thailand. Are Tougher Crypto Regulations Necessary?

alarm ICO crypto bitcoinA virtual bitcoin mining farm in Thailand has allegedly scammed users out of 42 million baht (approximately $ 1.35 million), according to a report in the Bangkok Post.  30 victims have filed a complaint against the company, CryptoMining.Farm. Although police believe the scam may have hit up to 140 individuals. It comes just months after a group of Thai siblings was accused of defrauding an investor of $ 24 million in bitcoin. Although Thailand is a booming market for cryptocurrencies, is it time for tougher regulations to crack down on scams and frauds? Victims report alleged blockchain mining scam https://t.co/W0dgXJ54j3 — Bangkok

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15 Suspects Arrested in Alleged $8 Million Taiwan Cryptocurrency Scam

By CCN.com: More than a dozen suspects have been arrested in Taipei for their part in an alleged Taiwan cryptocurrency scam that is worth in the region of $ 8 million. The scam surrounds a cryptocurrency called IBCoin, which was supposedly used to part investors from their cash in Taiwan. 2018 was a bad year for

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Taiwan: Bitcoin Traders Ran $51 Million Crypto Scam, Prosecutors Say

Prosecutors in Taiwan indicted seven bitcoin traders for allegedly operating a sham crypto investment scheme that bilked $ 51 million from more than 1,000 investors. The ringleader was a 47-year-old man whose surname is Lin, Focus Taiwan reported. The alleged scammers were charged with multiple violations of Taiwanese banking and business laws. The group of seven were arrested

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