Type to search

Bitcoin blockchain industry cryptocurrency cryptocurrency news China News

PlusToken Pyramid Managers Arrested in China.

Share
PlusToken pyramid

27 PlusToken pyramid managers arrested in China.

Damage exceeded $ 5.8 billion.

Chinese police have arrested 27 top suspects in the PlusToken cryptocurrency pyramid. Also arrested 82 key members of the group hiding in the country and abroad. This was announced by the managing partner of Primitive Ventures Dovey Wan.

According to law enforcement officers, about 2 million people became victims of PlusToken. The total damage from the activities of the pyramid amounted to $ 5.8 billion, although earlier it was about $ 3 billion.

«A pyramid-related fraudulent fund recently laundered at least $ 1 billion. There is now a movement of funds in EOS and ETH” – added Dovey Wan.

PlusToken Pyramid Details

PlusToken pyramid

Recall that the developers of the PlusToken crypto wallet are suspected of creating the largest Ponzi scheme in China.

PlusToken was launched in 2018 and was positioned as a decentralized solution and an “international cryptocurrency project” allegedly supported by a team from South Korea and promoted mainly in Asian countries such as China, Japan, Myanmar, Vietnam, as well as in the EU and Russia.

The company was characterized by clear signs of a pyramid scheme. So, investors were offered a referral system and the opportunity to receive monthly from 6% to 19% for their investment.

In March 2019, police in the southern Hunan province initiated an investigation into the PlusToken Ponzi scheme. Since then, the head of the Chinese division, Chen Bo, has been on the run with five other Chinese citizens associated with the project. In August 2019, the Chinese police managed to detain them.

We remind all traders that bxmi.io continues to sell BXMI tokens at the lowest price.

Read about all the benefits of buying BXMI here

 

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Leave a Comment

Your email address will not be published. Required fields are marked *

bitcoin
Bitcoin (BTC) $ 10,426.55 3.72%
ethereum
Ethereum (ETH) $ 340.05 7.96%
tether
Tether (USDT) $ 1.00 0.19%
ripple
XRP (XRP) $ 0.232083 4.90%
bitcoin-cash
Bitcoin Cash (BCH) $ 211.74 5.25%
polkadot
Polkadot (DOT) $ 4.03 11.47%
binancecoin
Binance Coin (BNB) $ 23.29 10.80%
chainlink
Chainlink (LINK) $ 8.71 12.93%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.151838 6.29%
litecoin
Litecoin (LTC) $ 43.15 7.32%
bitcoin-cash-sv
Bitcoin SV (BSV) $ 144.27 4.25%
cardano
Cardano (ADA) $ 0.079476 10.88%
eos
EOS (EOS) $ 2.52 4.71%
usd-coin
USD Coin (USDC) $ 1.00 0.22%
tron
TRON (TRX) $ 0.024846 6.96%
okb
OKB (OKB) $ 5.85 4.25%
monero
Monero (XMR) $ 87.51 4.13%
stellar
Stellar (XLM) $ 0.070636 7.20%
neo
NEO (NEO) $ 20.17 15.59%
tezos
Tezos (XTZ) $ 1.96 13.12%
leo-token
LEO Token (LEO) $ 1.21 1.52%
huobi-token
Huobi Token (HT) $ 4.53 4.89%
cosmos
Cosmos (ATOM) $ 4.07 14.39%
nem
NEM (XEM) $ 0.107044 2.21%
cdai
cDAI (CDAI) $ 0.020948 0.36%
dai
Dai (DAI) $ 1.01 0.12%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 10,429.42 3.53%
vechain
VeChain (VET) $ 0.012538 11.48%
iota
IOTA (MIOTA) $ 0.241698 6.58%
yearn-finance
yearn.finance (YFI) $ 22,330.00 20.66%
dash
Dash (DASH) $ 66.00 5.93%
uma
UMA (UMA) $ 10.69 25.25%
ethlend
Aave (LEND) $ 0.456999 21.92%
ethereum-classic
Ethereum Classic (ETC) $ 4.76 6.21%
theta-token
Theta Network (THETA) $ 0.539751 2.67%
zcash
Zcash (ZEC) $ 53.45 4.04%
uniswap
Uniswap (UNI) $ 4.28 12.52%
havven
Synthetix Network Token (SNX) $ 3.65 13.18%
compound-governance-token
Compound (COMP) $ 127.61 12.03%
binance-usd
Binance USD (BUSD) $ 1.00 0.36%
ontology
Ontology (ONT) $ 0.642769 11.52%
maker
Maker (MKR) $ 445.55 6.39%
true-usd
TrueUSD (TUSD) $ 1.00 0.26%
digibyte
DigiByte (DGB) $ 0.028161 9.11%
omisego
OMG Network (OMG) $ 2.58 10.13%
ftx-token
FTX Token (FTT) $ 3.57 3.77%
dogecoin
Dogecoin (DOGE) $ 0.002625 3.96%
paxos-standard
Paxos Standard (PAX) $ 1.00 0.11%
basic-attention-token
Basic Attention Token (BAT) $ 0.212288 8.90%
kusama
Kusama (KSM) $ 32.29 14.74%