Plus Token’s brazen fraud system is now history, but the stolen goods still haunt the crypto ecosystem. The current trace leads to mixers in which part of the stolen prey is said to have been washed.
It is in the nature of things that the crypto ecosystem lacks regulators. Fortunately, there are resourceful analysts who keep a close eye on suspicious transactions. In this way, a noticeable activity of old Plus Token Wallets could be tracked, the traces of which are now blurring with mixers.
Plus Token – A scam from the picture book
The pattern with which Plus Token pulled money out of investors’ pockets is well known and stems from the small multiplication table of the scams. For example, investors were promised dreamlike returns of between 6 and 18 percent per month, which were to be transferred to the wallets of the users as income and then traded profitably on the market using a trading bot system. As befits a genuine pyramid system, attracting new customers in the form of promised commissions should not go unrewarded.
So much for the theory. What followed also corresponds to the proven scheme. Due to alleged DDoS attacks and server problems, users were suddenly unable to make payments in June last year. The platform operators are said to have withdrawn an estimated three billion US dollars and maneuvered them onto their own wallets. The Chinese authorities were able to arrest some of the masterminds. However, there was no trace of the remaining backers.