Cryptomonnaires: Bitcoin Record Seizure in China

Cryptomonnaires: Bitcoin Record Seizure in China


Last month, as part of the site of the site "Silk Road", the US authorities revealed the confiscation of nearly $ 800 million in Bitcoin. This sad record has just been well beaten by the Chinese authorities with an even more important case. Zoom today on the "plus token" scam, whose judgment was made public on November 19, 2020.
The greatest cryptomonator fraud in history

The largest cryptomonator fraud in history over $ 3 billion. This is the colossal amount of the more Token scam. The greatest of all time, involving nearly 2.6 million users, mostly Chinese and Korean. It must be said that the promises had enough to attract a large number of investors with yields announced between 9 and 18% per month.

The scam, articulated in the form of a Ponzi pyramid took place between April 2018 and June 2019. It implies in total, nearly 200,000 bitcoin. This represents nearly 1% of circulating bitcoin in the world.

If the sulphurous image of cryptomonnies began to fade, these two judgments made successively by American and Chinese justice will still have, not to doubt, many questions among observers and investors in cryptomonnia.
How does a Ponzi pyramid work?

This gigantic scam was actually a Ponzi pyramid. The Ponzi pyramid system is best known to the general public through the Madoff case. This is very concretely to remunerate former investors who want to disengage with the fresh money invested newcomers. This system, quite illegal can last long, as long as new investors can feed the machine. The imbalance is created when investors wishing to recover their gains are more numerous than new entrants.

In the case of "plus token", the platform requested a first minimum transfer of $ 500 in a virtual portfolio. Every new entrant could also claim a bonus when he recruited other people. In addition to the announced yields, already very enticing. It is through this very simple system of the Ponzi pyramid that the false platform recruited more than 2.5 million members.

The machine, well oiled overweed in June 2019 when some investors are starting to complain about the difficulties encountered in recovering their investment and capital gain. The masks fall and although the information is quickly denied, the fall of more Token is close. A few days later, the site is put offline. The crooks volatilize in nature with more than 4 billion euros.

Following the collapse of the Empire more Token, the Chinese authorities quickly implemented all the measures to find the alleged authors of the scam. Nearly a year after the disappearance of the site, a hundred people were arrested. Paintings in prison were pronounced, up to 11 years old. If the case ends, some areas of shadows persist. The investigations continue for the time to lift the veil over all this case.
Cryptomonnaires: How to avoid scams?

Cryptomonnaires: How to avoid scams? Many virtual currency projects are actually still scams. Some unscrupulous project leaders do not hesitate to play on the complexity of the product to attract pesting investors. Avoid scams on virtual currency projects, so it's primarily to learn about project leaders.

It is important to keep a critical look at the course and de facto the legitimacy of project leaders to propose a new virtual currency or a new platform. If you invest on a new crypto-currency project, it is also extremely important to understand the operation of it.

The promises of performance too enticing are also to consider with the utmost precaution. This can often hide a scam system. The Autorité des Marchés Financiers (AMF) also puts online a blacklist of platforms to avoid for the purchase of cryptomonnaires. These lists are available for cryptomonnies but also other assets such as Forex trading.