Plus Token Ponzi collapses, Chinese media report $2.9 billion in losses
Following complaints of withdrawal delays beginning June 27th, Chinese media are reporting the Plus Token Ponzi scheme has officially collapsed.
On June 29th a report came across my desk detailing the arrest of Chinese nationals in Vanuatu.
Authorities in Vanuatu have arrested six Chinese nationals following complaints from authorities in China that they were operating an internet scam from the Pacific island, media reported on Saturday.
That’d be Saturday June 27th, the date Plus Token affiliates began reporting withdrawal problems.
Unfortunately the South China Morning Post report quoted above didn’t name the “internet scam” involved.
I did note the report as odd (Chinese scammers in Vanuatu?) but left it at that.
Fast forward to earlier today, when Chinese tech website 36KR confirmed the “internet scam” busted last weekend was Plus Token.
Of the six Chinese Plus Token scammers arrested above, Chen Bo appears to have been the most prominent.
Citing reports of non-payment from over four hundred PlusToken affiliates in social media groups, 36KR has concluded PlusToken has collapsed.
As at the time of publication however, PlusToken’s website and official social media accounts remain online.
PlusToken promoters desperate to fend off mobs of victims coming after them, are brushing off the collapse as a “hacker attack”.
The July 5th date references a Plus Token “leaders meeting”, previously scheduled to take place in Tokyo, Japan:
Citing a source “close to Chinese police” involved in the Vanuatu raid, 36KR are reporting investor losses of 20 billion yuan ($2.9 billion USD).
BehindMLM reviewed Plus Token back in October 2018. Based on its business model, we concluded Plus Token was an obvious MLM crypto app Ponzi scheme.
Of the three MLM crypto app Ponzi schemes launched in association with the World Blockchain Forum, Plus Token was the oldest.
Cloud Token and the newly launched S Block are still operational.
World Blockchain Forum coordinates their Ponzi schemes out of Singapore. As of yet Singaporean authorities have yet to take any action against the company.
Given Cloud Token and S Block essentially share the same fraudulent business model as Plus Token, it’s only a matter of time before they go bust too.
WOTOKEN VICTIMS- If your still in this Ponzi Scheme, look no further than PLUS TOKEN, WoToken is a duplicate scheme with a different name, same type of scam run by MLM fraudsters….
Yes, I see a few serial fraudsters that used to promote Plus Token, that now promote WoToken.
Will cloud token be next ….???
Think about it… If their technology could really generate their claimed profits then it would be worth billions to real investors.
They would not need to pay 6%-18% monthly returns plus up to a 200% match in sales commissions for people supposedly HODLing their money?
Common Sense is a Very Uncommon Commodity!
Los of laughs here as here I am in Japan right now and there are thousands of people preparing for the event in Japan and the app is working beautifully.
Jesus Oz you really like spreading rumours and you are hell bent of destroying any crypto program. You never seem to surprise me Oz.
Yet the fact remains, six Plus Token ringleaders were arrested and people have been complaining about non-withdrawals since July 27th.
The Plus Token app isn’t working as intended if you can’t withdraw your monopoly money.
Someone might be able to put on a song and dance in Japan but without withdrawals, Plus Token is over.
Hey Oz I think you have massive egg in your head. Don’t you think that if the owner run off with $3 billion it would’ve made it the front news in South Korea as that is where Plus Token came from and don’t you think it would’ve made the front news in Asia as 90% of them are from Asia.
Right now I’m in Japan and if the company shut down then why spend thousands of dollars in an event and why would anyone come to the event anyway.
You are really are hell bend in destroying any crypto program and shame on you. Learn how to be a real journalist and confirm your source as right now you look like a fool.
Lulz. All these wallet Ponzis come out of World Blockchain Forum in Singapore. They are run by Chinese scammers.
Sina reported on it the other day. And I verified 36KR is widely read.
Anyway what kind of argument is this?
“I can’t withdraw muh monopoly money but muh Ponzi din’t collapse because it didn’t make frontpage news…”
If you can’t withdraw your monopoly money returns, Plus Token has collapsed.
If you have a problem with Chinese police arresting Plus Token scammers and reporting $2.9 billion in losses, take it up with the Chinese police.
Only the PlusToken admins in Vanuatu were arrested. Singapore is still at large.
I have a problem with MLM crypto Ponzi schemes. Couldn’t give a fuck about crypto otherwise.
fixed your error.
The truth behind this and all the other similar crypto Ponzi schemes coming out of World Blockchain Forum (WBF) can be easily understood by asking yourself these two common sense questions.
1. If they were really generating profits from trading that they are claiming, why wouldn’t they prove it?
It would be very easy for them to do and it would eliminate all suspicion and it would attract billions of investment dollars to them.
2. If they could really generate the profits they are claiming, why wouldn’t they sell it to real investors for billions of dollars?
They wouldn’t need to pay 6% – 18% interest every month plus up to 200% sales commissions to a bunch of people that are supposedly doing nothing except HODLing their coins.
Please tell me you can see the logic in these two obvious basic questions.
@Rebecca
Just one comment: the Japan event is organized by the “Plus Token Community Japan”, NOT by Plus Token themself. And this event was already planned BEFORE the 27th June.
That this event take place, doesn’t prove at all that Plus Token is alive.
if plustoken collapse and the founder run with the money the grand meeeting wont take place on 5 july 2019.
on the 3rd july plustoken had come out with official announcement regarding all these matter.
pluskon is doing security aspect to protect our asset. and plustoken also know all the bad rumours.
Q: what do you call a collapsed Ponzi you can’t withdraw from but is still able to put on a song and dance?
A: a collapsed Ponzi.
This is the pattern that we have seen with all collapsed Ponzis. The leaders go into denial mode to save face for their next Ponzi promotion.
When the collapse is finally proven you can expect some excuse outside their control like a hacker attack or a free market crash. We’ve seen it over and over and over again.
They’re already jumping over to Cloud Token, WoToken and S Block now.
Greed keeps these Ponzis alive and common sense goes out the window.
Excellent proffesional reporting:
This guy can see into the future!!
Hah! Thanks for catching that <3
hi .. i have introduce by some one to call SBLOCK bussiness . but after i check its look like another ponzi scam. so i desided not to involve.
i need help some other my friends to stop promote this sblock . so i need help from admin to check and make people aware about ponzi scam. because now SBLOCK business is very famous in my country malaysia …regards.
We already reviewed S-Block last month – https://behindmlm.com/mlm-reviews/s-block-review-sbo-token-wallet-app-ponzi-scheme/
Now that Bitcoin is collapsing while it should be going parabolic with the world financial and civil turmoil… do you understand your money its GONE?!?
They are dumping your stolen coins at a rate of $1,000,000 every few minutes on Binance and causing this collapse of the crypto markets.
You people are just too stupid to realize how stupid you are to think crypto can pay interest.
Plus Token scammed 10M people out of $3B.
cointelegraph.com/news/3b-ponzi-scheme-is-now-allegedly-dumping-bitcoin-by-the-hundreds
Plus Token was born out of an organization called World Blockchain Forum (WBF), which has 3 other MLM scams including Cloud Token with the exact same business model, ROI promise of 6% – 18% monthly, mobile wallets, and supposed secret arbitrage trading bots.
Interestingly, these tokens are nowhere to be found anywhere on the Internet. Not on CoinMarketCap.com, not on CoinGecko.com, not on Etherscan.io, not in Github, not even on Google. They have no real token, no blockchain, no blockchain explorer, no public source code.
“Greed Blinds Many Eyes”
Lets see how much longer the game is being played at Cloud token same scam. Leaders are making all kinds of money stealing from others sad to watch.
It will end poorly hopefully the ones at the top will also end up in jail.
Bastards exchange thankGod I have withdrawn. I can’t risk it again.
do you know how many coins in this wallet? where have them gone?
$2.9 billion in losses in 2019. That’s whatever multiplied today.
Your money went to whoever recruited you into Plus Token and Chinese scammers.
Oz wrote:
Fantastic! The “hackers” will be rewarded for their action. Quote from a video by an unnamed PlusToken scammer from Germany:
share-your-photo.com/9eeeb1a0b2
youtu.be/t5feVhwmMIw?t=1150
The German PlusToken scammers have also spoken of a hacker attack. Video from German serial scammer Frank Schwarzkopf (StarAd24, Pro Ventus, OneCoin, Plus Token, GlamJet etc.) from July 8th, 2019:
share-your-photo.com/04a93754d1
The scammer in the video only uses his first name, Robert. Among other things, he said verbatim:
youtube.com/watch?v=5RNEtnRAdC0
PS: I’m not sure if “Robert” lives in Germany or Austria. At the end of the video he speaks from an Austrian site, but the sentence was cut off.
A law firm from Vaduz in Liechtenstein is offering a class action lawsuit against the PlusToken scammers. Article from July 19, 2022:
samstags-zeitung.de/plustoken-sammelklage-angebot-von-rechtsanwalt-florian-sheiber-aus-vaduz-serioes/
Lawyer’s website:
scheiber.law/rechtsanwalt
Plus Token was a SEA scam if memory serves. Who are some dinky law firm in Liechtenstein going to sue 3+ years after the fact?
The website of the lawyer from Vaduz in Liechtenstein on the PlusToken class action is currently unavailable:
plustoken-klage.com
The website is available in the web archive since July 2021:
web.archive.org/web/20220513044951/https://plustoken-klage.com/