Chinese Authorities Seize Over $4.2B Worth of Digital Assets from PlusToken Ponzi Scheme
The PlusToken Ponzi scheme is reported to have begun back in May 2018 and advertised a non-existent crypto arbitrage trading platform.
The PlusToken Ponzi scheme is reported to have begun back in May 2018 and advertised a non-existent crypto arbitrage trading platform.
The operators of the now-defunct MLM firm PlusToken allegedly spied on gullible investors, promising them handsome payouts if they invested in the token and, in turn, urged others to invest for a small “commission.”
As the markets have started to recover after the recent fall, Bitcoin price has finally managed to go beyond the level of $8,000 today.
As the overall cryptocurrency market added $10 billion to its valuations, Bitcoin leads the show with 5% gains. With today’s price surge Bitcoin has recovered by 15% from its weekly low of $6600.
The KYC, AML, and Wasabi wallet cause lots of uncertainty in the crypto exchange space. Changpeng Zhao shared his views on some of the common withdrawal issues in a blog post.
PlusToken is said to promise investors awards for purchasing their native PLUS tokens against Bitcoin and Ethereum.
Since PlusToken’s wallet team was confirmed to be on the run, global blockchain market has been paying close attention to the $2.9 billion in assets involved.
Bitcoin (BTC) price has been hovering around $10,000 since late June leaving traders and investors nervously watching for more potential loses. But now it has fallen below this level.
The CipherTrace report mentions that ‘exit scams’ have rocked the crypto markets in 2019 alone contributing to a fund loss of a massive $3.1 billion.