Chinese Authorities Have Seized a Massive $4 Billion in Crypto From PlusToken...
Cryptocurrencies worth billions of dollars have been seized during the police crackdown on the PlusToken Ponzi scheme in China.
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Court filings from Nov. 19 show that a large volume of crypto assets, including Bitcoin and Ether, was seized from seven convicts in the PlusToken case. 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, 487 million XRP, 6....
Chinese police have seized more than $4.2 billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme. According to a court ruling made public on Nov. 26, and shared by The Block, law enforcement confiscated a total of 194,775 bitcoin (BTC), 833,083 ether (ETH), 1.4 million litecoin (LTC), and 27.6 million EOS. They also took 74,167 DASH, 487 million ripple (XRP), 6 billion DOGE, 79,581 bitcoin cash (BCH), and 213,724 tether (USDT). The assets were seized from seven persons convicted during the police crackdown, says the court judgment. Altogether, the....
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. Meanwhile, onchain sleuths believe the Chinese government may have already sold a great number of the coins and simply added the proceeds to the central treasury. Plustoken Masterminds Sentenced to Up to 11 Years in Prison Just recently, a Jiangsu Yancheng Intermediate People’s Court ruling published on....
Authorities seized more than 400 Bitcoin miners in Venezuela this weekend in two major confiscations. Local reports indicate military personnel seized 332 miners from a transport truck. In another procedure, authorities seized 72 miners hidden in a house. These activities resulted in the apprehension of four individuals. Mining in Venezuela is perfectly legal, but it requires permits and licenses from Sunacrip. 400+ Miners Seized Authorities in Venezuela seized more than 400 mining machines last weekend in two separate events. In the first, 332 miners were seized at a control checkpoint in....
After a week of gloomy headlines and a brutal price dip, traders would do well to think long term. In the midst of the crippling price dips earlier this week, cryptocurrency traders seemed beset on all sides by fear, uncertainty, and doubt. However, Dermot McGrath, head of research at blockchain investment firm Sino Global Capital, said the firm prefers taking a long term view. Shortly after a Thanksgiving Bitcoin dip to $16,200, news broke that the Chinese government had seized $4.2 billion in cryptocurrencies as part of the Plustoken Ponzi scheme court proceedings. Rumors swirled that....