The People's Court of China ruled to capitalize the cryptocurrency confiscated by the police from the PlusToken financial pyramid.
According to the protocol, seven convicted fraudstersIn total, 194,775 bitcoins, 833,083 ether, 1.4 million litecoins, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 million DOGE, 79,581 bitcoin cash and 213,724 USDT were seized. The estimated value of these assets currently exceeds $ 4.2 billion.
The court ruled that all confiscated digital assets must be sold in accordance with the law, and the resulting profits will be added to the state treasury.
According to the criminal case, for more than a year of existence, the cryptocurrency pyramid PlusToken defrauded more than 2 million people of about $11 billion at today's exchange rate.Scammers have already managed to exchange some of the digital assets for fiati and spend.Studies show that more than half of criminal bitcoins are laundered on the two leading crypto exchanges , Binance and Huobi.
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