Before it went bust, the PlusToken platform’s 2.7 million members contributed approximately 14.8 billion yuan (US$2.25 billion) worth of eight types of cryptocurrencies, including more than 310,000 bitcoin. Illustration: Shutterstock
Before it went bust, the PlusToken platform’s 2.7 million members contributed approximately 14.8 billion yuan (US$2.25 billion) worth of eight types of cryptocurrencies, including more than 310,000 bitcoin. Illustration: Shutterstock
Bitcoin

Chinese cryptocurrency scam ringleaders jailed in US$2.25 billion Ponzi scheme involving PlusToken platform

  • Court in Yancheng, Jiangsu province, sentences those behind a multinational pyramid scheme to up to 11 years in prison
  • Size of the PlusToken scam makes it one of the largest uncovered Ponzi schemes in China to have taken advantage of blockchain technology

Before it went bust, the PlusToken platform’s 2.7 million members contributed approximately 14.8 billion yuan (US$2.25 billion) worth of eight types of cryptocurrencies, including more than 310,000 bitcoin. Illustration: Shutterstock
Before it went bust, the PlusToken platform’s 2.7 million members contributed approximately 14.8 billion yuan (US$2.25 billion) worth of eight types of cryptocurrencies, including more than 310,000 bitcoin. Illustration: Shutterstock
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