Free Bitcoin 2020

Free Bitcoin 2020
Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money.

What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

6 Members of the Multi-Billion Dollar Plustoken Scam Charged With Fraud in China

Members of the Multi-Billion Dollar Plustoken Scam Charged With Fraud in China

Following the arrest of 109 accused members of the $6 billion Ponzi scheme called Plustoken, six alleged members of the team were prosecuted according to a court filing submitted on Monday. The prosecutors say the individuals are “suspected in organizing and leading criminal pyramid schemes.”

The Plustoken scam was a large heist that managed to gather a large number of crypto assets during the scheme’s short tenure. Essentially Plustoken was a pyramid scheme that pretended to offer high-yield returns after people deposited funds into the system.

The system promised rewards in its native token eponymous token (PLUS) and managed to gather over 200,000 BTC, 26 million EOS, and roughly 789,000 ETH. After the fraudsters racked up all the funds, they left a simple message behind and wrote: “sorry we have run.”

On July 31, reported on Chinese law enforcement arresting approximately 109 individuals allegedly connected to the Plustoken project.

According to the report, 27 members were reportedly masterminds within Plustoken’s empire which was extremely popular in China and South Korea. Following the mass arrest, a court document from China details that Zhang Qin, Liu Jianghua, Wang Yin, Chen Shaofeng, and Lu Qinghai were named in the indictment.

The formal charges stem from Xiangshui County and Yancheng City prosecutors say the six defendants are “suspected in organizing and leading criminal pyramid schemes.”

Despite the mass arrests, crypto funds from the Plustoken scam have still moved and many people still assume the Ponzi scheme’s kingpin is still on the run. During the scheme’s height before its demise, Plustoken attracted over two million investors.

Reports noted that the Plustoken application allowed people to easily convert KRW or renminbi into a myriad of digital assets.

While BTC, EOS, and ETH were the most popular, Plustoken scammers allowed for the conversion of crypto assets like litecoin (LTC), and dogecoin (DOGE) as well. Back in May, regional reports detailed that key members of the Wotoken project (a similar scam) were indicted in Yancheng City.

Wotoken scammers are allegedly connected with the Plustoken Ponzi ringleaders and that scheme managed to steal $1 billion in digital assets. The Wotoken scheme was not as sizable as Plustoken’s four million members but still managed to swindle 715,000 victims.

What do you think about Yancheng City prosecutors formally charging six members of the Plustoken Ponzi scam? Let us know what you think about this subject in the comments section below.

The post 6 Members of the Multi-Billion Dollar Plustoken Scam Charged With Fraud in China appeared first on Bitcoin News.

from Bitcoin News


Hot News

Free Bitcoin 2020

Defcon Speaker Discusses Liberating $300K Worth of Bitcoin From an Encrypted File