One of the leaders of Plus Token is facing criminal charges in China. Plus Token is considered to be one of the biggest scams in the history of the crypto industry.

According to local media, Zhou will face prosecutors in Jianhu County Court, Yancheng City, Jiangsu Province. Since the local government only provided Zhou’s last name, we cannot confirm exactly what Zhou’s personal name is at this time.

Vanuatu is extraditing six Chinese citizens allegedly involved in crypto-schema

Zhou published and promoted publicly through WeChat and other Internet applications, the application of the PlusToken crypto wallet, described as a financial management app for crypto currencies.

After registering four accounts with different SIM cards in his wallet, he allegedly lured more than 1.9 million people into the pyramid scheme.

The Ponzi Pyramid Scheme

According to local authorities, PlusToken is 0x Bitcoin Evolution announcement, gdax Immediate Edge litecoin reddit, Bitcoin Revolution who to copy 2020, bitfinex to Bitcoin Trader, Bitcoin Circuit ec2v 6dn, why does Bitcoin Profit not accept nationwide, Bitcoin Billionaire locked my account, buying bitcoin besides The News Spy, buy bitcoin faster than Bitcoin Era, Bitcoin Code api apps disguised as a financial management application for crypto-currencies, but it allows criminals to recruit users who promise high returns generated by the number of other investors they can attract.

Token impersonates the Chinese Yuan Digital while the official launch date remains unknown
Local police said they received reports from the public about the fraud just last year, explaining:

„By pretending to provide a crypto coin valuation service, the platform falsely claims to have the function of extracting crypto coins and requires members to pay a certain amount of crypto coins, such as Bitcoin, Ethereum, EOS, etc., to obtain high static income. „.

Other criminals involved
As reported by Cointelegraph earlier, members of the Chinese police fell to Vanuatu and arrested six people involved in the PlusToken project and extradited them to mainland China last year. It could be the biggest crypt scam in history, with an estimated loss of about $2.9 billion.