Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi

[Ayokex]

I've said it before that ponzi scheme is a scam. The topic almost mislead me to abuse Chinese government anyway because I thought they seized the coins from innocent people but I can see that this a good movement.

 

[Shigobad2020]

The Plustoken Ponzi has lead to the arrest of up to 109 suspected individual.
News shown in cointelegraph reveals that the court filling has seized crypto asset worth $4.2 billion naira which includes , 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash,194,775 Bitcoin (BTC), 833,083 Ether (ETH) , etc.

This money were all part of the Ponzi scheme .
This was first made public on November 19 ,2020.
What do you think about this case ?

I really don't understand , is crypto currency a loads of money that can be used for money laundering , or the coin in which you can hold,? Someone should please explain to me.

 

[Heatman]

The Chinese government seems to be doing anything they want, when they want and how they want, without facing any kind of consequences from anyone or any country; it seems they just believe that they are King in their own way and how to do or run their country.

 

[Nomad]

I do not know about Plustoken Ponzi but I remember a similat kind of ponzi scheme called One Coin. sadly, the scammer was never caught. But I am grateful that I was not scammed by One Coin.

 

[Sincerem]

That's a ponzi scheme, which is operated by a scammer, that scammed innocent people trying to get away with it, until the government and caught him and he was apprehended.

 

[Nomad]

Never heard of a crypto currency ponzi scheme called plus token. But I knew about a ponzi scheme called one coin. The fraudster is believed to have scammed 16 billion USD in 2019.

 

[Alexandoy]

It makes me wonder how the authorities were able to arrest 109 individuals who are dealing with the Ponzi scheme. There are ponzi scammers who go scot free and maybe if arrested the number is not that big as to reach a hundred. Anyway, ponzi scheme is a scam so it doesn't matter if it is about crypto coin or not.

 

[Sincerem]

I believe such kind of scam have it possible for the Chinese government to shut the door close for crypto transactions in their country.

 

[GIFTMICHAEL]

That's the kind of news we ought to be getting around the digital ecosystem. Fetching those ponzi scheme perpetrators is very much appreciated.

 

[Zevin]

A lot of crypto currency projects are operated in MLM manner, in other words, you get tokens for recruiting people to the system. However, by the time you are ready to cash out, they vanish.

 

[Josemendez]

A lot of crypto currency projects are operated in MLM manner, in other words, you get tokens for recruiting people to the system. However, by the time you are ready to cash out, they vanish.

People who accept such method of getting a coin are mostly newbies because a cryptocurrency expert will prefer to go for exchanges to buy a coin and holdl it for long

 

[Hena101]

This is a very good because it can help in securing back the money most people invested in the ponzi scheme because most the ponzi scheme scam people.

 

[Sotherefore]

Nice one by the Chinese government. I wish other countries follow the same process to arrest every crypto scammers. We do not have space for scammers here.