27 individuals who played a major role and 82 key members of the PlusToken Ponzi Scheme have been arrested, bringing the pyramid scheme with allegedly 3,000 levels to an end.
China has fallen victim to yet another mega digital currency scam. Known as WoToken, the scam is alleged to have made off with over $1B from 700,000+ investors.
A Chinese scam has attracted thousands of investors, with promises of a utopian world and exponential returns. In just three weeks, it has netted over $12m.
A recently-published research report into the PlusToken scam highlights the role regulated digital exchanges play in laundering the proceeds of crime.
Twitter-based transaction monitor @whale_alert first reported PlusToken had shifted 789,525 ETH, worth more than $105 million.
The only thing worse than a scam that wipes out over $3 billion in cryptocurrency asset is a scam that wipes out those assets and causes the crypto market to collapse.
Known as PlusToken, the Ponzi scheme is reported to have caught as many as 10 million individual investors, with investment totaling $3 billion.