Breaking News: ACE Exchange CEO Wang Chenhuan Arrested for Alleged Cryptocurrency Fraud
This morning, ACE Exchange’s current CEO and leader, Wang Chenhuan, was arrested on charges of involvement in a “garbage coin fraud” case. The prosecutor has detained Wang and four other suspects. Wang, who is also the managing partner of a prominent domestic law firm, has attracted significant attention from the legal community.
In response to the situation, Zhang Shaoteng, the managing partner of the law firm, has issued a statement clarifying that Wang’s personal investment in Wangpai Digital Innovation Co., Ltd. is unrelated to the law firm. Zhang also announced that the position of managing partner will be assumed by other lawyers starting today.
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What will happen to ACE users? Exchange’s statement: Full cooperation with investigation, normal deposit and withdrawal operations.
ACE Fraud Case Continues to Spread: Police Call for Victims to Fill Out Fraud Report Forms (link included)