Mr. Wang, who has been doing business in Lanzhou for many years, staked his entire fortune, 3.6 million yuan, and in just three months, he recruited more than a dozen relatives and friends to join Plus Token, with an average investment of more than 100,000 yuan. Mr. Wang became a large investor as he wished, and his income is growing rapidly.
Under the temptation of huge profits, more investors flocked to virtual currency wallets such as Plus Token. Just three months after the product was launched, in August 2018, the total number of Plus Token members exceeded one million, and the amount absorbed reached nearly 5 billion yuan.
Four months after the product was released, Plus Token made a bigger move. On September 15, 2018, it announced that it would sponsor the World Blockchain Conference held in Jeju Island, South Korea, and held the global launch ceremony of "Plus Token" at the Jeju Island Shinhwa World Landing Hotel. A man named Leo appeared on the stage. He is the co-founder of Plus Token and a former Google AlphaGo algorithm researcher. The Plus Token virtual currency wallet, which was born only a few months ago, has taken a bigger step in the cryptocurrency circle.
In March 2019, Plus Token began to appear on the streets to attract investors. Later, billboards in Times Square in New York also played its ads. On October 22, 2018, Leo attended the World Digital Economy Forum in Geneva and delivered a keynote speech on the future planning of Plus Token. Then, photos of Leo attending the dinner with Warren Buffett, the "stock god", quickly spread in the virtual currency circle.
However, the police investigation found that Leo, who claimed to be the co-founder of Plus Token, had little to do with the platform, and his real identity was absurd and simple. He was a foreign student who came to China in September 2015 and studied at a university in Changsha, Hunan. His identity as the co-founder of the Plus Token virtual currency wallet project was completely packaged by the gang.
The man who created all this, Lu Moulong, is the real director of this drama. Lu Moulong, from Xinghua, Hunan, also known as Lu Yao, was born in 1988 and is only 33 years old this year. After graduating from university, he has been working in Beijing, doing P2P project sales and advertising marketing, and is very sociable. In 2015, he entered the cryptocurrency circle. With the advantage of his marketing background, he quickly took root in this industry and became a well-known blogger with a lot of resources in the financial and media circles.
Lu Moulong packaged Leo and did some superficial work to attract popularity for the Plus Token virtual currency wallet. In fact, the Plus virtual currency issued by Plus Token is also fake.
In just a few months, Plus Token created a dazzling celebrity effect and created a rising price of virtual currency. After these two steps, police investigators found that this commercial organization, which used blockchain technology as a gimmick and issued virtual currency, actually wanted to attract investors through pyramid schemes. The Criminal Law of the People's Republic of China clearly defines pyramid schemes.
Global network closed, nearly 2 million participants "dream"
As the criminal acts committed by Plus Token became clearer and clearer, the police's judgment became clearer. In March 2019, the Jiangsu Provincial Public Security Department directed the Yancheng Public Security Bureau to set up a "Plus Token Large-Scale Transnational Network Pyramid Scheme" task force, with nearly 100 police officers and 6 teams to conduct a full investigation.
The biggest features of virtual currency are decentralization and anonymity, and transaction records are encrypted. Trying to find the whereabouts of criminal gangs among tens of millions or even hundreds of millions of transaction records on the Internet is like looking for a needle in a haystack. The complexity of this case is far beyond imagination.
As the case progressed, the criminal gang, which had a strong anti-detection awareness, began to shrink its business. On June 27, 2019, Plus Token, a virtual currency wallet that called itself "Yu'ebao in the currency circle", announced that it would stop withdrawing money and wrote in the note of a transfer address: Sorry, we ran away.
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