Onchain Researchers Suspect Chinese Government Sold Plustoken’s Billion-Dollar Bitcoin Hoard Last Year

A number of masterminds from the Plustoken scam were sentenced to 11 years in prison for defrauding cryptocurrency investors. Last week, on November 19, a court ruling had shown the Chinese government said that it seized over $4 billion in crypto assets from the Plustoken scam.

Most of the latest reports about the Plustoken scam have not told Ergo and OXT Research’s story, as many assume the Chinese government still has these coins. “The Chinese government seized 190,000 BTC and 830,000 ETH from the Plustoken MLM case, with a total value of billions of dollars,” Wu tweeted.

Timeline of Bitcoin, Ethereum, Orchid