PlusToken was a cryptocurrency Ponzi scheme targeting Chinese and South Korean investors. PlusToken offered users of its cryptocurrency wallet monthly payments in the form of Plus tokens. The PlusToken fraudsters have defrauded investors for over $3 billion. It is speculated that the large selling of Bitcoin by PlusToken has caused Bitcoin to drop in price.
The fraudsters have sold 22,000 Bitcoins. Plustoken used coin join services and Bitcoin mixers to obfuscate the transaction history of their coins. This cover-up was necessary so that they could sell their Bitcoins on exchanges. Most major cryptocurrency exchanges have strict KYC/AML checks which they wanted to avoid.
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.