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Plus Token - 100 Arrests in One of the Biggest Ponzi Schemes

By XTRM™ | Cryptopia | 8 Aug 2020

Hack, cracks, crooks, spooks, spies, wow you name it in the criminal world, Cryptocurrency seems to have them all... In numbers it seems. 

Around 100 cybercriminals and cohorts have been nabbed over in China, apparently they have been a touch naughty these 100 people. 

Plus Token an originate of South Korea, then moved to China... What transpired was an 18% percent yield had been promised to investors from both South Korea and China as long as they had the ability to and that they were willing to participate in, storage of cryptocurrencies such as bitcoin, ETH and EOS - thus had to be with Plus Token.

It turns out that aound $1-billion has been swiped from investors in hard crypto, and other investments... These are the times we live in folk, we have to be wary of some very clever Ponzi Schemes - I'd get onto the subject of Cloud Mining Ponzi Schemes quite easily right now... 

Also it turns out large commission payments had been offered in a referral system that had been quite the busy one from the looks of it. This basically raised suspicion of a Ponzi outfit in action, the action of the Chinese authorities has cracked one of the biggest Ponzi schemes the crypto world has seen to date.

The rumours of Plus Token shutting down issued the Red Alert however, and so police and other bodies saw reason to figure out what had gone wrong. 

An initial 6 people involved in the Plus Token scam had been arrested in 2019, this gathered pace as Chinese and South Koreans investigated with a number of organisations globally. 100 have now been caught with more possibly to come. 

The investigating team say that they are close to figuring out the footprint of where all the stolen funds have gone after revealing some 6000 or more Wallets had been used to facilitate crypto transactions. It is not known how much of the stolen funds can be recovered - logistically tracking victims of the Ponzi Scheme and payments is also proving a nightmare for investigators. 

Initial figures given have suggested that it could be as much as $3-$6 billion in bitcoin and other cryptocurrencies that have been looted from more than four million users in a very short period of time. 

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Cryptocurrency Investigator - XTRM™ PR - Taking a laid back look at Crypto while sneaking up on the Cryptocurrency Bad Guys. All investigatory reviews are my own findings during testing - Dig a little deeper! If Carlsberg made Crypto Blogs!


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