PlusToken (PLUS)

Not the real Fiat Daily 133

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Not the real Fiat Daily posted on December 10, 2019 14:31:06

Confirmed Chinese ponzi scheme that operated from its launch in 2018 during the so-called World Blockchain Forum. Most of the participants were from China, but also some from other countries throughout Asia and even further, but because of its operations being in China, most of the rest of the world have missed its existence. Regardless they were able to defraud 200,000 bitcoin from the investing participants. Click here to see more... It all came to an end when 6 of the operators were arrested by Chinese police. However, still a couple of other operators are still at large and it seems those have control over the funds, as they are trying to mix them and also there have been reports by chainanalysis firms that large portions have already been sold on exchanges.

Plus Token was your average typical bitcoin pyramid ponzi (similar to the notorious Bitconnect), where users were promised unrealistic high returns on investments with bitcoin in Plus Tokens. Since the arrests were made, withdrawals by participants became impossible and the project since then collapsed.

Here are some insightful articles explaining the scam and the aftermath. Because of the high amount of bitcoin that the operators are controlling, there are even speculations that bitcoin's poor performance since June, after the Plus Token collapse and arrests, is the cause of negative sell pressure by those Plus Token operators selling their bitcoins in the past couple of months, allegedly.

Behind MLM article: https://behindmlm.com/companies/plus-token-ponzi-collapses-chinese-media-report-2-9-billion-in-losses
Bitcoin Magazine article: https://bitcoinmagazine.com/articles/how-the-plustoken-scam-absconded-with-over-1-percent-of-the-bitcoin-supply
Recent Boxmining article: https://boxmining.com/plus-token-ponzi

Beware that other similar ponzi's were announced during that World Blockchain Forum 2018 that are still operational, but of smaller size than Plus Token; those are: "Cloud Token" and "S Block". Be careful out there: if it is to good to be true it probably is not true!