Probe into PlusToken Scam, Where $3 Billion Has Gone?
Founders of crypto wallet PlusToken allegedly fled with the assets of its users’ total cost of $3 billion. This is the biggest scam exit crypto financial pyramid in China to date, according to the portal 8btc.
PlusToken wallets have swept over 100 countries in the past year, with more than 3 million users. And over the past year, PlusToken’s price has risen from $0.4 to $139.
But in fact, PlusToken is not a crypto wallet. Because the assets of its users are not controlled by themselves, but completely managed by PlusToken. Therefore, after accumulating enough assets, the project is easy to go bust and run away, like a P2P scam. The only difference between PlusToken and P2P is the transaction media has been transferred to cryptocurrency such as bitcoin and Ether, rather than legal currency.
PlusToken’s team is always a mystery. In its early white paper, PlusToken claimed it was developed by a technology team with years of experience from Samsung and Google, and its laboratory was in Seoul, South Korea. The Russian co-founder, LEO, is one of the members of PlusToken open to public. The foreigner-faced LEO often attends and is active in PlusToken’s activities.
Not only boarded on the screens of Zhongguancun Technology Park and Nasdaq, PlusToken also held offline activities in Korea, Japan and other countries, and even took photos with Charles, Prince of Britain.
Now whether the project’s funds will be returned is the most concern of the victims. And the crypto circle is more concerned about whether these funds will flow to the market through exchanges and other channels?
Up to now, it is said that six people suspected of PlusToken’s founding team were arrested in Vanuatu, but it has not been confirmed that these people are belong to PlusToken’s team. If it is true, this may be the best result.
Where has nearly 3 million users’ assets gone?
Unlike centralized accounts such as bank accounts, blockchain accounts are generally open and transparent, and anyone can trace PlusToken’s assets! The current ETH wallet address held by the project of PlusToken is: 0xf4a2eff88a408ff4c4550148151c33c93442619e (the current available balance is 789,511.4505373054427794 Ether with a value of about 233.9 million dollars).
According to PeckShield security researchers, a small amount of ETH funds have been transferred to ZB and Cashierest exchanges.
All victims were from of Asian exchange platforms such as Huobi, gate, ok, bithumb and coinbene. Obviously, these victims can not use real crypto wallets at all. They bought the relevant crypto on the exchange according to the instructions of the PlusToken and then withdraw crypto to their PlusToken “wallet address”.
PlusToken may not choose to transfer the crypto directly to the exchange and then sell it out. Instead, it chooses to retain part of the crypto, while the other part was put into laundering. Thus requiring a professional blockchain tracking team to track.
Now it is necessary to identify the PlusToken project’s receipt address as soon as possible, and ask the relevant exchanges to blacklist these addresses in order to prevent victims from continuing to send crypto to the project party.