“On June 27, 2019, a handful of leaders for a wildly popular ponzi scheme that spread across Asia were arrested by Chinese authorities after they managed to fleece unwitting customers out of roughly $3 billion.

PlusToken, as it was called, promised its “investors” monthly returns of anywhere from 10 to 30 percent in its eponymous token (PLUS), which traded on such popular exchanges as Huobi and Bithumb. This attracted more than 200,000 bitcoin (1 percent of the outstanding supply, or the entirety of the Winklevi’s bitcoin holdings), 789,000 ether and 26 million EOS. As of this report, the ringleader of the operation is still at large and funds are still on the move.”

The racket reeks of the same chicanery and unrealistic promises of returns as the Ponzi scheme tied to now-defunct BitConnect

Uncategorized