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Tag Archives: crypto scam

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

Aug 4, 2020

Vincent He

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...

Chinese Police Charge 6 Over ¥320 Million Cryptocurrency Scam

Oct 24, 2019

Vincent He

Six people have been charged in China over a cold-call cryptocurrency investment fraud. After an investigation by the Procuratorate in lian Yungang, a city in east China’s Jiangsu Province allege that six men duped over 10900 investors into handing over ¥320 million (around US$45 mi...

GGT, A Crypto Ponzi Scheme Went Bust in China

Aug 8, 2019

Vincent He

GGT, a crypto Ponzi scheme went bust in China after converting USDT assets deposited in its crypto wallet ‘G-Wallet’ to GGT without being approved by investors. GGT's price in the secondary market has long been unsatisfactory before it went bust. After the "mandatory exchange"...