The Reason Why China’s Authority Decided to Confiscate $4.2bn Worth Assets from PlusToken Scam

Dec 3, 2020

China managed to confiscate after arresting suspects of the PlusToken scam. The amounts withdrawn by the authorities exceed 4.2 billion dollars. Compared with prison terms, this time, more people focused on "the disposal of stolen assets". There are three basic disposal principles for prope...

China Crypto Roundup (Nov 23- Nov 30): Chinese City Suzhou to roll CBDC Testing, China Construction Bank Withdrew Proposed $3bn Blockchain Bond, Over $4.2bn Seized in PlusToken Crackdown

Nov 30, 2020

The top stories from the Chinese cryptocurrency sphere this past week include: China’s city of Suzhou reportedly set to roll out “red packets” trial for digital yuan, court documents show over $4.2bn seized in PlusToken crackdown.…… Chinese city Suzhou to roll CBDC testing S...

Over $4.2bn Seized in PlusToken Crackdown So Far, Court Documents Show

Nov 30, 2020

While the PlusToken saga is far from over, the latest development in one of the largest Ponzi schemes China has ever seen shows that there’s very little life left in the case. According to the latest reports coming from local news sources and provincial courts, more than $4.2 billion worth of...

China Among Top Locations for Crypto Exchange Breaches, $7.6 bln Stolen So Far

Nov 17, 2020

About $7.6 bln worth of cryptocurrrencies has so far been stolen - $2.8 bln through security breaches and $4.8 bln in scams - since 2011, according to a new Crystal Blockchain finding, and China is among the top common locations for exchange security breaches. Also on the list of countries wher...

$6 Billion Crypto Scam PlusToken Busted up With Victims in Vain

Aug 4, 2020

Chinese police have taken down Plustoken, a major multinational pyramid scheme using cryptocurrencies. Since June 27, 2019, the participants of the $6 billion scam have been waiting for the withdrawal. Some of them even have accepted the collapse of the Ponzi scheme and only hope that the hand...

China Crypto Roundup (Jul 27- Aug 3): Bitcoin Trends on Weibo, Plustoken Taken Down, Bitcoin Activities Not Banned

Aug 3, 2020

The Chinese cryptocurrency sphere this past week has been bustling with noise and excitement as the market improved. Bitcoin bull hit financial news headlines with the topic viewed 100 million times on Weibo. The notorious Plustoken Ponzi scheme was taken down by Chinese police with 109 peop...

109 Key Members of the PlusToken Pyramid Scheme Arrested

Jul 31, 2020

The PlusToken saga that has shaken the crypto industry to its core seems to slowly be coming to its end. According to reports from local media, over 100 key members of what many describe as the biggest Ponzi scheme since Bitconnect have been arrested earlier this week. A news report from m...

Bitcoin’s Latest Sharp Drop Is Not PlusToken-Related, Security Firms Say

Mar 11, 2020

Bitcoin’s latest price drop was not caused by bitcoin sell-offs from the $3 billion Chinese crypto Ponzi scheme PlusToken, according to analysis from several security firms. As bitcoin plunged to two-month lows over the weekend, concerns are rising that the sudden crash is likely triggered...

Warning: 12,000 Bitcoin from Plustoken Wallet on the Move Again

Feb 11, 2020

Plustoken scammers are moving 12,000 BTC worth $118 million, according to China-based blockchain security firm PeckShield. Plustoken, the notorious ponzi scheme, is believed to have amassed as much as $3 billion in cryptocurrency, largely from Chinese investors who were duped into b...

Chainalysis: PlusToken Is Dumping on Huobi OTCs, May Be Eating Into BTC Price

Dec 18, 2019

The most devastating cryptocurrency Ponzi scheme in history may be contributing to bitcoin’s 2019 price decline. That’s according to blockchain analytics company Chainalysis, which has been tracking funds from the roughly $3 billion PlusToken scam since the thing blew up at the end of J...