Chinese authorities arrested pyramid schemes that raised $ 5.7 billion in bitcoin
China's Ministry of Public Security has arrested 27 key and 82 minor suspects in the PlusToken pyramid. The organization attracted investors under the pretext of large profits, the damage from its operations amounted to 5.7 billion dollars in bitcoin and other cryptocurrencies, local media reported.
The law enforcement authorities started the first battle on the pyramid at the end of June last year. Six of its members were then arrested. Despite this, the organization continued to exist, during the year it increased more than 3000 levels and was able to attract over 2 million new investors. They invested bitcoin and other cryptocurrencies in PlusToken, which was its main source of funding.
Bitcoin did not respond to the news of the imprisonment of PlusToken members, now it is trading at $ 11,000, it has fallen in price by 1% per day. But the situation was different last time. The day after last year's arrest of six pyramid organizers, the BTC price began to fall. In one day it dropped from $ 14,000 to $ 10,000 and was in decline next year.
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