It seems that another Chinese ponzi scheme has deceived its investors from 2018 and 2019 with a massive amount of money.
If the people behind this scam start selling, there will be strong pressure on the price of the crypto market.
After Bitcoin shot up to $ 14,000 in 2019, PlusToken began selling its illegally obtained funds to Huobi. It is estimated that more than 200,000 BTC were stolen from investors, which were then sold on stock exchanges.
Dovey Wan explained in a recent Twitter post that a PlusToken scam has also robbed its users.
According to her, the scheme was active between July 2018 and October 2019.
In total, more than $ 1 billion has been stolen from investors.
“WOW another mega-big Ponzi scam WOTOKEN […] has been targeted by Chinese police, and here’s what the court documents say: active from July 2018 to October 2019, WoToken scammed over $ 1 billion.”
It is not clear at this time whether these coins have been sold on the market.