Chinese authorities size more than $4,2 billion in crypto assets associated with the Plus Token scam

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According to court files, Chinese authorities confiscated cryptocurrency connected to the infamous Plus Token scam that is worth over $4,2 billion.
However, those $4,2 billion are just a small portion of the over $11 billion that were lost by over 2,6 million investors, the majority of which were Chinese and Korean citizens, although there were plenty of international investors too. The scam itself operated between April 6, 2018 and June 27, 2019.
On November 19 a local Chinese court has convicted 15 different people involved in this scam. All received jail sentences between 2 and 15 years and were fined between $100,000 and $1,000,000. The police had initially arrested 27 people for the scam.
Chinese authorities also seized assets that include 94,775 BTC, 833,083 ETH, 1,4 million LTC, 27,6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH, and 213,724 USDT. When converted into USD, all those assets are worth over $4,2 billion.
I was wondering whether I’d ever see a bigger crypto scam than OneCoin, and here it is. I am glad that some justice was finally delivered.


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