March 8, 2021

Chinese authorities to sell $ 4.2 billion worth of cryptocurrencies seized from PlusToken

Chinese authorities are implementing the activities of the PlusToken cryptocurrency pyramid during the investigation About this with reference to the court order Yanchenh writesThe Block.

Chinese law enforcement had 194,775 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.


: The Block.

"The confiscated digital currency will be implemented in accordance with the law, and the proceeds will betransferred to the state treasury," the decision reads.

The court did not specify possible methods of cryptocurrency implementation.

Launched in the spring of 2018, PlusToken pyramid worked under the guise of a cryptocurrency wallet.According to the prosecutor's office, the key participants of PlusToken attracted investors with a yield of 10-20% monthly and a referral program.They managed to interest 3 million people.

In June 2019, users began complaining about withdrawal problems.

During its existence, the scheme attracted 314,000 BTC, 117,450 BCH, 96,023 DASH, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS and 928 million XRP.According to the court, the total value of these assets exceeds $11 billion.

In late July, Chinese law enforcement agencies arrested 27 main suspects in the organization of the cryptocurrency pyramid.Eighty-two key members of the group have also been detained.

In August, the police detained six creators of the pyramid.In September, they were charged with organizing and running a fraudulent scheme.