Reports have emerged linking a former Philippine mayor to a crypto scam group in Asia, raising concerns about the presence of crypto fraudsters in local governments. The dismissed mayor, Alice Guo, has been connected to the operators of Atom Asset Exchange, a cryptocurrency enterprise that misappropriated millions of customer funds. This revelation highlights the growing issue of crypto scam rings in Southeast Asia and Hong Kong, exploiting the limited regulations in the region. Guo's business associate, Huang Zhiyang, also has ties to illegal activities through the Sun Valley Clark Hub Corporation. The case underscores the importance of transparency and accountability in local governance. Guo faces charges of human trafficking and money laundering, with suspicions of being a Chinese spy. The connection to Atom Asset Exchange further implicates her in organized crime activities. The incident sheds light on the vulnerabilities in Asian cryptocurrency markets, attracting inexperienced traders preyed upon by scammers. Read more AI-generated news on: https://app.chaingpt.org/news