Taiwanese bitcoin miner shot by gangsters after China crackdown on cryptocurrencies

Taiwanese bitcoin miner shot by gangsters nearly NT$50 million in lost bitcoins after China clamps down on cryptocurrency mines

Stacks of bitcoins. (Pixabay user QuinceMedia)

Stacks of bitcoins. (Pixabay user QuinceMedia)

TAIPEI (Taiwan News) -- A Taiwanese bitcoin miner was shot on Saturday by two gangsters over NT$47 million (US$1.6 million) in lost bitcoins after China has begun a clampdown on cryptocurrency exchanges.

On Saturday night at 7:30 p.m. at Longhua Hall in Banqiao, New Taipei, suspected members of the Tamshui Gang (淡水地區幫派) Kao Chi-tang (高啟唐), 32, and Chen Han-min (陳瀚民), 32, fired seven shots at a man surnamed Wu (吳), 35, who sustained a gunshot wound to the ankle.

According to a police investigation, Kao and Chen had lent Wu over 10 million Chinese yuan (NT$47 million) to invest in a bitcoin mine in China on the condition that he would give them NT$10 million in profits. However, when Wu told them that because of the latest crackdown by the Chinese government on cryptocurrency exchanges in China, he was not able to access the profits, Kao and Chen opened fire on Wu.

The two suspects then fled the scene and police used surveillance video to identify the license plate of the vehicle owned and driven by Kao and were able to pinpoint their location after the wounded Wu gave them their cell phones. Seven hours later, Kao, Chen and two other suspects, surnamed Chiang (江), 31, and Tang (湯), 21 turned themselves in to authorities.

According to police, Kao and Chen are known members of the Tamsui Gang and had prior charges for attempted murder and gun violations. The men were found to be carrying Beretta and Taurus handguns.

Kao and Chen have been taken into custody on charges of attempted murder.