Chinese police seize crypto worth $4.2 billion

What Beijing does with assets from PlusToken Ponzi scheme could significantly affect market, says analyst

Chinese police have seized $4.2 billion worth of cryptos connected to the PlusToken Ponzi scheme.

In a November 19 judgment made public on Thursday, the Jiangsu Yancheng Intermediate People’s Court provided details of all the crypto assets seized by police investigating the PlusToken scheme.

A total of 194,775 BTC, 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH, and 213,724 USDT have been seized by Chinese law enforcement from seven convicts, The Block reports.

The court said, “The seized digital currencies will be processed pursuant to laws and the proceeds and gains will be forfeited to the national treasury.” 

The PlusToken case was initially ruled on by a lower-level district court in the city of Yancheng in China’s Jiangsu province on September 22. 


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admin 2 yrs

Wow they were cashing out