{"id":394075,"date":"2020-08-23T22:00:33","date_gmt":"2020-08-23T22:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=394075"},"modified":"2020-08-23T14:27:59","modified_gmt":"2020-08-23T14:27:59","slug":"largest-crypto-ponzi-in-history-research-shines-light-into-scale-of-plustoken","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/largest-crypto-ponzi-in-history-research-shines-light-into-scale-of-plustoken\/","title":{"rendered":"Largest Crypto Ponzi in History? Research Shines Light into Scale of PlusToken"},"content":{"rendered":"

According to new research, the recently alleged crypto asset Ponzi scheme PlusToken may be the largest in history. The study, conducted by Elementus, shows that around $2 billion worth of Ether<\/a> (ETH) tokens were involved in the scheme.<\/p>\n

Given that the operation accepted payments in a range of other cryptocurrencies, as well as by the Ethereum transactions studied, the firm has reason to believe that the final total will be far greater than $2 billion.<\/p>\n

Just How Much Crypto Did PlusToken Take From Investors?<\/h2>\n

As mentioned in the report<\/a> itself, until recently, most of the English-speaking internet was unaware of PlusToken. Although details of the story remain scant, we do know that key members of the operation were arrested in China earlier this month. However, other key figures are thought to remain at large.<\/p>\n

Dovey Wan, a founding partner at crypto holding company Primitive Ventures, provided a lot of information about the case as details became clearer:<\/p>\n

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JUST IN <\/p>\n

as per sir @loomdart<\/a> \u2018s request, this thread is abt the on-going sells off made by PLUS Token, the biggest Chinese PONZI which scammed ~70K $BTC<\/a> + ~ 800K $ETH<\/a> <\/p>\n

I mentioned it briefly in my last Coindesk oped but worth additional attention as it may cause further sells pic.twitter.com\/uIjgrzwHET<\/a><\/p>\n

— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) August 14, 2019<\/a><\/p><\/blockquote>\n