“Web3’s Western Expansion: Does the Coinflow Report Hold Evidentiary Value in Court? Taipei District Prosecutor Luo Wei-Yuan Reveals Insider Information”

Tracking cryptocurrency crimes: What is the key to traditional investigative methods?
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In the previous two episodes of the “Anti-Fraud, Anti-Money Laundering” series, we spoke to blockchain intelligence analysts and currency flow experts to understand the various forms of international blockchain financial crimes. In this episode, we shift our focus back to Taiwan and explore the common criminal methods currently seen in Taiwan, as well as how we can establish a healthier cryptocurrency ecosystem.
️ Further reading:
【Web3 Goes West】 From national-level intelligence to blockchain intelligence analysis! TRM Labs analyst: Must surpass fraud groups in the technology race
Prosecutor Luo Wei-Yuan of the Taipei District Prosecutors’ Office, who was previously responsible for investigating major financial violations, attended a seminar in the United States in 2019 with Prosecutor Hong Min-Chao, who appeared on the “Anti-Fraud, Anti-Money Laundering” series, and was introduced to the world of cryptocurrency through various discussions. Since then, Prosecutor Luo has become an expert in virtual currency investigations and compliance, obtaining multiple licenses from internationally renowned blockchain analysis company TRM Labs. He has also been invited by various organizations such as the Anti-Money Laundering Office of the Executive Yuan, the Police Administration, the Judicial Yuan Institute, the Ministry of Justice Judicial Institute, the Taiwan High Prosecutors Office, and law enforcement agencies to give lectures on virtual currency crimes and practical experience in technological investigations.


Prosecutor Luo Wei-Yuan (pictured) is an expert in virtual currency investigations and compliance, holding multiple licenses from internationally renowned blockchain analysis company TRM Labs.
Prosecutor Luo believes that while using technology to track cryptocurrency crimes is important, traditional investigative methods must also be employed to successfully solve a case. The involvement of victims, money laundering channels, and techniques related to the case are all critical factors in the investigation.
Through currency flow analysis reports, we can thoroughly understand how criminal groups attempt to hide their tracks and move funds. However, does a currency flow report have evidential value in court? Prosecutor Luo stated that although Taiwanese courts are currently unfamiliar with this issue, in the United States, for example, courts invite the creators of currency flow analysis reports to testify and explain the methodology behind the reports, as well as the significance of each analysis point, in order to determine the evidential value of the reports.
In the process of money laundering by fraud groups, an essential element is the use of “dummy accounts” and “money mules.” With the implementation of the “Temporary Suspension or Closure of Account Functions for Anti-Money Laundering” regulations on March 1st, dummy accounts will be strictly regulated, and it will be illegal to disclose bank and exchange account passwords. XREX has also updated its Anti-Money Laundering and Platform Use Management Regulations to crack down on fraud groups and individuals involved in illegal activities using cryptocurrencies.
Summary of this episode:
What are the common points in successfully prosecuting cryptocurrency cases in court?
Reporting a fraud case is not just about preventing others from becoming victims; it is also about increasing the chances of recovering the defrauded assets!
Wayne’s prediction: We can expect to see more successful cases of recovering fraudulently obtained USDT in the future!
Does a currency flow report have evidential value in court?
How will “individual currency traders” be regulated as a convergence point for fiat and virtual assets?
Anti-Fraud, Anti-Money Laundering series
Inviting industry experts, we reveal the methods of fraud groups and money laundering operations from the perspectives of investigation, money flow tracking, judicial systems, and cryptocurrency exchanges, decoding the common practices of criminals and analyzing the pain points of evidence collection and law enforcement.
Web3 Goes West
Hosted by Wayne Huang and Winston Xiao, co-founders of XREX Exchange, and Yoyo, Senior Director of the XREX Executive Office, this series helps you understand the concept of decentralization and gain a multi-dimensional understanding of the Web3 world.
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