{"id":28366,"date":"2020-09-08T17:06:25","date_gmt":"2020-09-08T14:06:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28366"},"modified":"2025-08-27T11:18:48","modified_gmt":"2025-08-27T08:18:48","slug":"in-china-creators-of-plustoken-pyramid-scheme-charged","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/in-china-creators-of-plustoken-pyramid-scheme-charged\/","title":{"rendered":"In China, creators of PlusToken pyramid scheme charged"},"content":{"rendered":"<p>The Xiangshui County People&#8217;s Procuratorate has charged six founders of the PlusToken cryptocurrency pyramid. They are charged with organizing and operating a fraudulent scheme, <a href=\"https:\/\/www.12309.gov.cn\/12309\/gj\/js\/ycs\/zdajxx\/202009\/t20200907_8499668.shtml\" target=\"_blank\" rel=\"noopener noreferrer\">as stated<\/a> in the department&#8217;s filing.<\/p>\n<p>The pyramid operated under the guise of a cryptocurrency wallet. According to the prosecutors, key PlusToken participants attracted investors with monthly returns of 10-20% and through a referral program. They managed to attract about 3 million people.<\/p>\n<p>Earlier in June 2019, users began reporting problems with withdrawals. In August, police detained six suspected PlusToken founders for fraud.<\/p>\n<p>In late July 2020, Chinese law enforcement <a href=\"https:\/\/u1f987.com\/en\/news\/27-core-plustoken-pyramid-suspects-arrested-in-china-losses-exceed-5-8-billion\">arrested<\/a> 27 principal suspects in organizing the activities of the cryptocurrency pyramid. Also detained were 82 key members of the group. The losses from PlusToken are estimated at $5.8 billion.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 full feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Xiangshui County People&#8217;s Procuratorate has charged six creators of the PlusToken cryptocurrency pyramid with organizing and running a fraudulent scheme, as stated in the department&#8217;s filing.<\/p>\n","protected":false},"author":1,"featured_media":28367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1163],"class_list":["post-28366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-ponzi-schemes"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28366"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28366\/revisions"}],"predecessor-version":[{"id":28368,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28366\/revisions\/28368"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/28367"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}