Six Chinese citizens who carried out the PlusToken scam were arrested in Vanuatu, China.
PlusToken Ponzi Scheme promised users high monthly ROI(6-18%) by simply transferring your crypto to their PlusToken wallet that supported multiple crypto currencies ( Pluscoin, Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, Dogecoin, EOS, and Dash) and was available on Android and iOS platforms.
The PlusToken Wallet had over 2.4 million active members who were mainly from Asian countries. PlusToken claimed that their system would increase the users crypto assets through arbitrage trading.
PlusToken team carried out multiple paid social media campaigns, a very generous referral program and organized multiple events to promote their Ponzi Scheme and to attract more victims.
Finally, it all collapsed when PlusToken stole all of their users funds around 20 billion yuan ($2.9 billion USD).
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