The PlusToken story, One of the biggest scams in the cryptocurrency industry takes another turn when dozens of top suspects have been arrested.
Up to 27 members of the PlusToken team were arrested by the Chinese policeAccording to a report by the local industry publication ChainNews on July 30.
According to the message, The total amount of PlusToken fraud investor losses is estimated at 40 billion Chinese yuan or $ 5.7 billion.
The report also mentions that investigators arrested 82 other key members of the system.
Dovey Wan, founding partner of the blockchain-based investment company Primitive Ventures, has tweeted that the owner’s key has already been burned, so he cannot technically commit fraud.
She said: “I sincerely hope that this attempt can be a good learning experience for the Chinese community to start a DAO. [Organización Autónoma Descentralizada] effectively, a bottom-up government, a real people’s movement that is for the people. “
As reported The PlusToken scheme has become one of the biggest fraud cases in cryptocurrency history. The project was originally launched as a South Korean stock exchange with high returns from investors. Ultimately, the entire operation was exposed as a fraud after several million participants found that they could not withdraw their investment. As previously reported, the fraud program has been estimated to defraud investors totaling approximately $ 5 billion.