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Home / Blockchain / A New Billion Dollar Crypto Money Ponzis is Born in China.
In 2019, the world was captivated by the news of a China-based crypto Ponzi scheme called PlusToken.

A New Billion Dollar Crypto Money Ponzis is Born in China.

A New Billion Dollar Crypto Money Ponzis is Born in China.

The leaders of this program undoubtedly defrauded investors billions of dollars. The sale of these fraudulent tokens was thought to greatly exert pressure on the cryptocurrency market. This ponzi scheme was part of the reason Ethereum, Bitcoin and other digital assets dropped from high levels in mid-2019. It is understood that another China-based Ponzi plan was stealing a large amount of crypto from investors in 2018 and 2019.

According to the news, the program includes a total of 46,000 Bitcoins and more than 715,000 registered users with more than 2 million Ethereum. If history repeats itself and the leaders of this plan begin to dump crypto assets into the open market, it can put downward pressure on BTC and many other cryptocurrencies.

WOTOKEN Ponzi Scheme Collected Over $ 1 Billion Crypto Money From Investors

After Bitcoin rose to $ 14,000 in 2019, the PlusToken Ponzi scheme began unloading illegally acquired cryptos on the Huobi stock market and brought massive selling pressure to the market. It is estimated that fraudsters stole a total of 200,000 BTC from investors and then continue to sell on the open market instead of using OTC orders. Dovey Wan, co-founder of Primitive Crypto, announced in another tweet that another Ponzi plan similar to PlusToken defrauded investors with large amounts of cryptocurrencies.

WOTOKEN May Print on the Market with BTCs at its Hand

It is not clear whether WOTOKEN ringlets are currently selling any of the cryptocurrencies. However, Wan states that fraudsters have 46,000 BTC and more than 2 million ETH.If these coins enter the cryptocurrency market, another selloff may occur.According to Wan, fraud was active from July 2018 to October 2019. In total, they stole a total of $ 1 billion from investors.

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