A viral video by YouTuber Domitolo has pushed crypto investing back into Taiwan’s culture war. His review of bestselling author Huang Shan-liao drew more than 1 million views in two days, and his channel added 40,000 subscribers within four days. In the video, Domitolo said reading six of Huang’s novels felt like reading only two, arguing that the stories repeat the same structure and reduce characters to simple labels, including “self-media operator,” “passive income,” regular crypto investing, and blockchain.
The dispute quickly moved beyond literary criticism. The source argues that placing these terms inside romantic and emotional fiction reinforces a broader social association: people linked to crypto are often framed as opportunistic, untrustworthy, or close to scams. Huang later responded that he would “continue to learn and grow,” while the online discussion spread widely enough to draw attention from former Taiwan president Chen Shui-bian.
Fraud data shapes public perception
The article ties that stigma to years of fraud cases involving virtual assets. It says Taiwan recorded more than 600 crypto-related fraud cases from 2020 to 2023, with losses exceeding NT$70 billion. It also cites 15,296 reports in August 2024 alone and says the collapse of FTX caused more than NT$50 billion in losses in Taiwan.
Against that backdrop, saying “I invest in crypto” can trigger the same reaction as admitting contact with a scam. The source points to social media posts from alleged victims, including one case involving losses of NT$60 million, while others described taking on loans and falling into prolonged financial distress. That pattern has made fraud the default frame in many public conversations about digital assets.
Regulatory progress has not erased the label
The piece also notes that Taiwan’s market is not operating without formal structure. The island has legal crypto exchanges and virtual asset service providers that have completed registration with regulators. Businesses focused on on-chain analysis, compliance, and technical development are also part of the sector. According to the source, Taiwan in 2026 passed the first reading of its Virtual Asset Service Act, with later discussions expected to cover stablecoins and listed companies accepting crypto payments.
Even so, those developments have not changed the broader image problem. The article’s central point is that in Taiwan, crypto still carries strong associations with speculation, fraud, and low trust. That is why a book review could spill into a wider argument about the industry itself: terms like blockchain and virtual currency already come loaded with social baggage before any policy discussion even starts.