Multiple Chinese Citizens Deported by Vanuatuan Authorities for PlusToken Illegal Crypto Operations

    Recently, another crypto ponzi scheme (that was making use of TRON’s likeness) was shut down after local police authorities received a number of complaints from individuals who had become aware of the situation.

    • Yangchen police authorities allegedly tipped of Vanuatuan officials about 6 people who were associated with a crypto pyramid scheme called ‘PlusToken’.
    • It is estimated that the PlusToken team currently has under its possession a whopping sum of $2.9 Bln.

    As per an all-new report released recently, the Pacific island of Vanuatu has deported 6 Chinese nationals (back to the nation’s mainland) for partaking in an illegal cryptocurrency venture. To be a bit more specific, it appears as though all of the apprehended individuals were linked to a crypto pyramid scheme called ‘PlusToken’.

    In regards to this ongoing situation, the Yangchen (China) police department confirmed earlier today that the Vanuatu government had been successful in nabbing the suspects.

    Additionally, according to several media sources, it appears as though investigators based in Yangcheng had tipped off Vanuatuan officials about the PlusToken scheme and are now requesting them to extradite the 6 individuals linked with the project.

    The PlusToken pyramid scheme has been under a lot of scrutinies in recent months — especially as more and more of the project’s employees have been apprehended and investigated by police authorities across Asia and Europe.

    According to a representative for the Yancheng Public Security Bureau, the PlusToken scandal came to the forefront earlier this year when it was revealed that the platform was operating a monetary pyramid scheme.

    Plustoken was being widely advertised across China via WeChat — one of the country’s most popular messaging services. Not only that, to promote the offering, PlusToken’s executive brass was also hosting a number of promotional events across the globe.

    Through the PlusToken fundraiser, the project was able to recruit more than 100,000 users as well as acquire a little over $189 million.

    At press time, it is estimated that the Plustoken Team has under its possession, a consolidated sum of around $2.9 billion. Data available on Coinmarketcap indicates that there are no active trades for PlusToken’s native coin offering — ‘PLUS.’

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    Shiraz J
    Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

    [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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