Taipei, The Criminal Investigation Bureau (CIB) issued a statement Saturday, warning the public against the use of a trading site called Ethvinex, which it said has come under the spotlight for fraud-related complaints.
Since late February, Taiwan authorities have been receiving at least 50 complaints per day about fraudulent activities on the Ethvinex site, the CIB said.
The people who filed the complaints all said that they had not received any responses after carrying out transactions on the trading platform, the bureau said.
Citing the complainants, the CIB said Ethvinex claims to guarantee a 20 percent safe return on capital investments and a drawdown of profits after a week of placement.
The placement of funds can range between NT$2,000 and NT$930,000 (US$31,740), according to the investigation bureau.
The CIB said an investigation is being carried out into the operations of Ethvinex and its current host location.
Meanwhile, the public is warned to be aware of the growing threat of online investment fraud, particularly offers of high and easy returns, the CIB said.
It said people can report suspicious activities via the government's 165 Fraud Prevention Hotline, or its online reporting service at https://www.165.gov.tw/case_tell.aspx.
Source: Focus Taiwan News Channel
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