Crypto Scam PlusToken May Be Much Bigger Than Previously Thought, Values Could At $2.9 Billion

    2019 had several scams so far. Unfortunately, despite the fact that, in most aspects, this could be considered a good year, scams are everywhere. One of the main scams was PlusToken. This scam took over $2.9 Billion from investors using a Ponzi scheme-type of fraud.

    PlusToken, in case you have not heard about, was a famous Ponzi scheme from South Korea. It was marketed as a crypto wallet, but it had several kinds of rewards for you to store money there and convince other people to do the same.

    The end of the operations only happened when some people were arrested, but the site is online at the time of this report.

    At the moment, the real number of people who might have been affected by this scam is still unknown. However, the police affirmed that the number might range from 2.4 to 3 million investors who were defrauded. There may be even more victims, however, what could raise the value of the money lost to over $3 billion.

    Where did the money go? This is the main question that the police are trying to find out now. Most of the money was originally flowing to the same few accounts, but it was divided into several addresses before the police showed up to disrupt the operation. Reports show that the money was sent to at least 248,000 different addresses.

    If the scam was even bigger than expected, this could put PlusToken among one of the biggest crypto scams ever made.

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    Gabriel Machado
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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