Media: PlusToken crypto wallet turns out to be a $ 3 billion pyramid scheme
The creators of the PlusToken cryptocurrency wallet allegedly fled with the assets of their users totaling $ 3 billion. This is the largest exit scam of the cryptocurrency financial pyramid in China to date, according to the 8btc portal.
PlusToken users on social media report that they have not been able to withdraw cryptocurrency from their wallet since June 27. The rate of the PLUS platform’s own token is kept at $ 139,237 and has not changed since June 29. Investors suggest that the organizers of the scheme fled with their assets, which are estimated at 20 billion yuan or $ 3 billion.
The PlusToken wallet was launched in 2018 and was positioned as a decentralized and international cryptocurrency project supported by a team from South Korea. The project was promoted mainly in Asian and European countries, including Russia.
According to information on the PlusToken website, a certain Mr. Leo is the co-founder of the wallet, but information about him is almost not provided. Contrary to the claims of the creators insisting on links with South Korea, the accompanying data suggests that the wallet was developed by the Chinese company Jiaxing Zhejiang, 8btc claims.
PlusToken has the characteristics of a pyramid scheme. Investors were offered payments from 6% to 19% per month and additional bonuses for attracting new members. The company previously announced that it intends to register 10 million users by the end of the year, while the declared number of participants was 3 million..
In March, the Chinese police launched an investigation into PlusToken and stopped the fraudulent scheme. The likely head of the Chinese pyramid unit, Chen Bo, known as Chen Zihan, has been on the run ever since. On June 29, he was allegedly arrested along with five other Chinese citizens for organizing an online fraudulent scheme. Although the authorities do not provide details, it is believed that the six detainees were key figures in PlusToken..
In June, the creators of the crypto wallet TokenStore disappeared in a similar way, appropriating deposits from more than 2,100 users, adds 8btc.