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After Plus Token, is another Ponzi scheme coming from China?

bitcoin ponzi - Is another Ponzi scheme coming from China after Plus Token?

2019 was marred by Plus Token scam, the third largest Ponzi scheme in history, thanks to which it was possible to steal billions of dollars from a very large number of unwary.
In fact there have been many colo that between Korea South and other areas of Southeast Asia have bite in front of the mirage of returns between 6 and 18% promised by wallet as a result of the investment of the money deposited in arbitrage, trading and mining.
The story then had a very noticeable impact on the same market as the cryptocurrency, As i Bitcoin purchased with the proceeds of the operation were sold, bringing down the price of the entire sector, starting with BTC, which collapsed to $ 6.600 after the summer glories. A flow of digital currency which, moreover, should continue for a long time, where Huobi, theexchange on which the largest amount of divestments takes place, will not take action.

Now another similar case is feared

If Plus Token still continues to exert its poisoned fruits, months after the arrest of its creators, now from the China news of another arrives similar scam, which could again have far-reaching consequences for the entire crypto sector, depressing it at a crucial moment.
The name of this Ponzi scheme, which would operate between 2018 and 2019, is Wo Token and it has been reported Dovey Wan, one of the founders of Primitive Crypto. Indeed, in a tweet he said that the scheme would have been blocked by the Chinese police, not without having first obtained over a billion dollars from the unsuspecting victims.

The numbers of the Wo Token scam

The numbers that were disclosed by Wan are indeed mind-boggling. The number of users scammed would amount to 715.249, while the total scammed in the form of tokens would be as follows: 46 thousand BTC, over 2 million Ether, 292 thousand Litecoin, 56 thousand Bitcoin Cash and 684 thousand EOS. For a total, estimated by law enforcement, in excess of one billion dollars!
Yet another confirmation of how Ponzi schemes are still able to attract a large number of naive people ready to believe the most unlikely hypotheses. But above all, ready to fall into the clutches of those who are willing to do anything to take advantage of the weakness of the human psyche, whenever a lavish profit is expected, easy and without risk.

The market may soon be sunk

The problem, however, is not limited to the scam perpetrated against the hundreds of thousands of people who have trusted the Wo Token sirens. If what happened for Plus Token happened, with the sudden introduction of the quantity of cryptocurrency cheated on the market, a new drop in prices would be practically inevitable, similar to what took place in late 2019.
An eventuality certainly not to be excluded, considering that there is still no news of the end made by the tokens involved in the scam. To which many in the community of crypto fans look with open fear. If a new case of this kind arises, at a particular moment like the one characterized by third halving of BTC just run and from a coronavirus that is sinking the financial markets, the consequences could be unpredictable.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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