RATE Group | An alleged cryptocurrency exit scam swindled $2.9 billion, but main suspects still on th…
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An alleged cryptocurrency exit scam swindled $2.9 billion, but main suspects still on th…

18 Aug An alleged cryptocurrency exit scam swindled $2.9 billion, but main suspects still on th…

Posted at 07:11h in Cryptocurrency News by

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Quick Take

  • Approximately $2.9 billion deposits have been lost in an alleged scam with a cryptocurrency wallet provider and exchange PlusToken, according to blockchain security company CipherTrace
  • The Chinese police officials confirmed to The Block that six suspects affiliated with PlusToken have been arrested, although main operators of the alleged scam are still on the run
  • PlusToken allowed users to earn profits on their cryptocurrency deposits and incentivized members to bring in new users by providing monetary rewards


As much as $2.9 billion appears to have vanished in what could be one of the largest cryptocurrency exit scams to date, but the main suspects are still on the run and might have moved the swindled funds recently, according to cryptocurrency AML software provider CipherTrace and Chinese police officials. 

At the center of this alleged scam is PlusToken, a…

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