In 2018, a platform called PlustToken quietly spread in the cryptocurrency circle. The platform packaged itself as digital currency financial management and lured millions of people to participate with high interest rates.

PlustToken said that when the value of the tokens in the wallet is more than $500, the "smart dog" can be activated. In this way, while the investor's coins are stored on the platform, they can also get an additional income of 10% to 30% per month.

At the same time, investors can also develop levels on PlustToken. After developing personnel directly or indirectly, they can get generous returns based on the number of personnel developed and the amount of investment.

Relying on this model, the PlustToken platform quickly attracted a large number of users and became popular in 2019.

The model of the PlustToken platform has obvious characteristics of a Ponzi scheme + C sales. Even if the platform uses digital currency as a cover, it still cannot change the fact that it is illegal.

Therefore, China’s public security, procuratorial and judicial organs characterized PlustToken as a pyramid scheme and, in May 2020, brought public prosecution against Zhou Moumou, the main operator of the platform.

It is reported that the amount involved in this case is as high as more than 40 billion yuan, which is a huge amount.

After Shanghai Chenxing Electronic Data Forensic Identification Center appraised the backend data of the platform, it showed that from April 6, 2018 to June 27, 2019, the platform had more than 2.69 million registered member accounts (after removing duplicate accounts with ID cards), with the maximum level reaching 3,293.

The amount of digital currency involved in this case is also astonishing. The PlustToken platform raised a total of 310,000 Bitcoins, 9.17 million Ethereums, more than 51 million EOS, etc.

On November 26, 2020, the PlustToken case finally received a final judgment. PlustToken was ruled to be a C-selling platform, and part of the platform's digital currency was seized by the defendants Chen Bo, Ding Zanqing, and Peng Yixuan.

It is reported that the public security organs have seized a total of 190,000 bitcoins, more than 27.24 million EOS coins, 830,000 Ethereum coins, etc. This case involves a total of 9 digital currencies including Dogecoin, Bitcoin, Dash, and Tether.

These digital currencies will be processed according to law, and the funds and profits obtained will be turned over to the state treasury. This also means that the millions of people who participated in this pyramid scheme will lose everything.

The PlustToken case serves as a warning to investors that they should be vigilant and not be tempted by high interest rebates to prevent being deceived. Although the PlustToken case has been solved, platforms that use the banner of digital currency financial management to conduct pyramid schemes are still rampant.

Recently, the (circular economy) has become popular in the cryptocurrency circle. It also adopts the model of returning commissions by recruiting people and rebates on a daily basis. It has very obvious traditional Chinese and Ponzi schemes, and investors need to be vigilant.

The tragedy of PlustToken just ended recently, don’t fall into new traps. #TON #美联储何时降息？ #新币挖矿TON #BTC☀ #ETH🔥🔥🔥🔥