Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi
The PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities, worth $4.2 billion at today's prices. According to court filings released publicly on Nov. 19 and posted by The Block, authorities seized a staggering 194,775 Bitcoin (BTC), 833,083 Ether (ETH), 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash (DASH), 487 million XRP, 6 billion Dogecoin (DOGE), 79,581 Bitcoin Cash (BCH), and 213,724 Tether (USDT) from seven individuals convicted in the case.
According to the ruling from the Yancheng Intermediate People's Court, gains from the seized crypto assets will be forfeited to the national treasury. The Yancheng Intermediate People's Court puts the estimated figure of members at 2.6 million, and outlines that the scheme absorbed 314,000 BTC, 117,450 BCH, 96,023 DASH, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS, and 928 million XRP by June 27, 2019.