{"id":32466,"date":"2020-11-27T13:35:40","date_gmt":"2020-11-27T11:35:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32466"},"modified":"2025-08-28T08:47:47","modified_gmt":"2025-08-28T05:47:47","slug":"china-sells-confiscated-plustoken-cryptocurrencies-worth-4-2-billion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/china-sells-confiscated-plustoken-cryptocurrencies-worth-4-2-billion\/","title":{"rendered":"China sells confiscated PlusToken cryptocurrencies worth $4.2 billion"},"content":{"rendered":"<p>Chinese authorities have sold confiscated cryptocurrencies from the PlusToken pyramid scheme investigation, valued at $4.2 billion. The Block <a href=\"https:\/\/www.theblockcrypto.com\/post\/85873\/china-seize-billion-cryptos-from-plustoken-crackdown\" target=\"_blank\" rel=\"noopener noreferrer\">reports<\/a>, citing a Yancheng court order.<\/p>\n<p>The Chinese authorities held 194,775 BTC, 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH and 213,724 USDT.<\/p>\n<div id=\"attachment_117809\" style=\"width: 745px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-117809\" class=\"wp-image-117809 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-2-735x450-1.png\" alt=\"\u041a\u0438\u0442\u0430\u0439 \u043f\u0440\u043e\u0434\u0430\u043b \u043a\u043e\u043d\u0444\u0438\u0441\u043a\u043e\u0432\u0430\u043d\u043d\u044b\u0435 \u0443 PlusToken \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442\u044b \u043d\u0430 \u0441\u0443\u043c\u043c\u0443 \u0432 $4,2 \u043c\u043b\u0440\u0434\" width=\"735\" height=\"450\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-2-735x450-1.png 735w, https:\/\/u1f987.com\/wp-content\/uploads\/image-2-735x450-1-300x184.png 300w\" sizes=\"auto, (max-width: 735px) 100vw, 735px\" \/><\/p>\n<p id=\"caption-attachment-117809\" class=\"wp-caption-text\">Source: The Block.<\/p>\n<\/div>\n<blockquote>\n<p>\u201cThe confiscated digital currency has been sold in accordance with the law, and the proceeds have been handed over to the state treasury,\u201d the decision states.<\/p>\n<\/blockquote>\n<p>The PlusToken pyramid launched in spring 2018 operated under the guise of a cryptocurrency wallet. According to the prosecutor&#8217;s office, key participants attracted investors with monthly returns of 10-20% and a referral programme. They managed to attract around 3 million people.<\/p>\n<p>In June 2019, users began reporting problems withdrawing funds.<\/p>\n<p>During the scheme\u2019s existence, it attracted 314,000 BTC, 117,450 BCH, 96,023 DASH, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS and 928 million XRP. The court estimates the total value of these assets at more than $11 billion.<\/p>\n<p>In late July, 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 cryptocurrency pyramid. Also 82 key members of the group were detained. The losses from PlusToken are estimated at $5.8 billion.<\/p>\n<p>In August, police detained six of the pyramid&#8217;s founders. In September they <a href=\"https:\/\/u1f987.com\/en\/news\/in-china-creators-of-plustoken-pyramid-scheme-charged\">charged<\/a> with organizing and managing a fraudulent scheme.<\/p>\n<p>For more on the impact of PlusToken&#8217;s activity on the price of Bitcoin, read ForkLog&#8217;s special report.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"TQ8VZ7GANl\">\n<p>How does the PlusToken pyramid launder bitcoins and how does this affect the price?<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"How does the PlusToken pyramid launder bitcoins and how does this affect the price? \u2014 ForkLog\" src=\"https:\/\/u1f987.com\/exclusive\/kak-piramida-plustoken-otmyvaet-bitkoiny-i-kak-eto-vliyaet-na-tsenu\/embed#?secret=A8qKt5Mx4Z#?secret=TQ8VZ7GANl\" data-secret=\"TQ8VZ7GANl\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full feed of news, <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>Chinese authorities have sold confiscated cryptocurrencies from the PlusToken pyramid scheme investigation, valued at $4.2 billion. The Block reports, citing a Yancheng court order.<\/p>\n","protected":false},"author":1,"featured_media":32467,"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":[133,1163,1172],"class_list":["post-32466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-ponzi-schemes","tag-seized-bitcoins"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32466","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=32466"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32466\/revisions"}],"predecessor-version":[{"id":32468,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32466\/revisions\/32468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32467"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}