32 individuals, including exchange founder David Pan and lawyer Wang Chen-huan, have been indicted by Taiwanese authorities for allegedly defrauding investors of $24.5 million through a cryptocurrency token scheme. Pan and his associates are accused of promoting tokens like #MOCT and #BNAT since 2019, manipulating prices and using fake documents to lure investors. Over 1,200 victims were identified, with funds allegedly used to purchase real estate. Pan and others face possible prison sentences of 20+ years, while Wang could receive 12 years due to his legal role. This follows Pan's previous involvement in a $10.7 million scam related to a crypto transaction app. #ACE has distanced itself from the accused, stating operations are normal and cooperation with authorities is ongoing. #BullorBear