Chinese Authorities Seize $4.2 Billion Laundered Funds from PlusToken

Earlier today, industry news source The Black reported that the Jiangsu Yancheng Intermediate People’s Court provided a breakdown of the crypto assets that police have seized concerning the PlusToken scam. When its fraudulent nature ultimately came to light, PlusToken went dark, and authorities began searching for company officials.

In June, asset tracking platform Whale Alert noted that a PlusToken wallet had transferred 26.3 million EOS tokens – worth $67 million at the time. While several top company officials remain at large, Chinese law enforcement has also done a number on PlusToken’s affiliates.

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