Reported: PlusToken PLUS (App)
Compiled by ScamMarketCap from public recordsHappened Jun 27, 2019China
PlusToken, launched in China in 2018, promised members daily payouts from a crypto arbitrage trading platform that did not exist. A Chinese court found it was a pyramid scheme that drew in more than 2.6 million members across 3,293 layers and, between 2018 and June 2019, took in cryptocurrency worth 14.8 billion yuan (about $2.25 billion).
In September 2020 a court in Yancheng, Jiangsu province, convicted 15 people, 14 of them for organizing and leading pyramid-selling activities. The lead defendant, Chen Bo, was sentenced to 11 years in prison and fined 6 million yuan. The others received terms of two years to eight years and eight months, some suspended. The Yancheng Intermediate People's Court rejected their appeals on 19 November 2020.
Police seized cryptocurrency, including 194,775 bitcoin, worth more than $4.2 billion at late-2020 prices, and the court ordered the proceeds forfeited to the national treasury.
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
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