PlusToken

🚨 Introduction:
While everyone knows about the collapse of FTX or the rug pulls like Squid Game Token, there's a much bigger and lesser-known crypto scam that looted billions before vanishing — the PlusToken Scam.
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💰 What Was PlusToken ?
PlusToken was a high-yield investment platform launched in 2018, primarily targeting users in China, South Korea, and Southeast Asia.
They claimed users could earn 10–30% monthly returns just by depositing their crypto (mainly $BTC and $ETH ) in the PlusToken wallet.
> 📲 It looked legit, had a mobile app, a referral system, and even real-time dashboards.
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🧠 The Trick: Classic Ponzi Scheme Disguised in Crypto
The scammers used new investors’ deposits to pay old investors — a typical Ponzi Scheme, but with a modern twist: crypto wallets and referral bonuses.
Users earned extra tokens (PlusToken or "PLUS") if they brought in new users. This created massive hype and network growth.
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💸 How Big Was the Scam?
Over $2 billion worth of Bitcoin, Ethereum, and EOS were stolen.
Nearly 4 million users were affected.
At its peak, 200,000+ BTC, 789,000 ETH, and 26 million EOS were locked in their wallets.
This scam impacted global BTC prices because the scammers dumped large quantities of stolen Bitcoin on exchanges like Huobi and OKEx.
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🕵️‍♂️ How It Got Caught
In mid-2019, the platform abruptly stopped withdrawals. Victims panicked. Later that year:
6 Chinese nationals were arrested in Vanuatu.
Eventually, 109 individuals were prosecuted.
But the full extent of stolen funds was never fully recovered.
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🌍 Why It Matters Today:
Even now, some of the stolen BTC is believed to be moving across wallets via mixers and dark web channels.
Many new scams replicate the PlusToken model, using:
Referral incentives
Fake apps
Fake staking or yield farming schemes
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⚠️ How to Avoid Similar Crypto Scams:
1. ✅ Never trust platforms promising fixed high returns.
2. 🔍 Research the project’s whitepaper, team, and smart contracts.
3. 💬 Join public crypto communities and ask questions.
4. ❌ Avoid referral-based investment models — classic red flag!
5. 🔐 Always control your private keys. Not your keys, not your crypto!
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📌 Conclusion:
The PlusToken scam was one of the largest crypto frauds in history, but it remains shockingly unknown to many. Learn from the past — stay educated, stay skeptical, and stay safe in the crypto world.
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