PlusToken
A 'smart wallet' promising 10-30% monthly returns for simply holding. It ran one of the largest Ponzi schemes in crypto history, then froze withdrawals in 2019 and the operators were later arrested.
- 1-2y
- 2-2y
- 3-1.5y
- XDeath
Spacing is ordinal, not to scale. Numbers match the list below.
- 1
Promised 10-30% monthly returns, guaranteed and compounding.
Visible 2 years before death | Guaranteed returns
- 2
Referral bonuses for recruiting new wallets, a pyramid in a crypto costume.
Visible 2 years before death | Pay-to-recruit referrals
- 3
No real team, no public code, just an app and a promise.
Visible 1.5 years before death | Closed or unaudited code
Monthly returns above ~2% are not an opportunity. They are the bait.
- Cryptocurrency Scams Took in More Than $4 Billion in 2019The Wall Street Journalarchive
- Chinese cryptocurrency scam ringleaders jailed in US$2.25 billion Ponzi scheme involving PlusToken platformSouth China Morning Postarchive
- China arrests over 100 people suspected of involvement in PlusToken cryptocurrency scamZDNetarchive
Editorial summary of public reporting. Allegations are labeled as allegations. Not financial or legal advice.
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