- 1 Overview of Plus-Coin
- 2 Plus Token Sell-offs Responsible for Bitcoin Price Drop?
- 3 Do you have a coin for our experts to value?
- 4 Is Plus Token still scamming users?
- 5 Want Daily NPLC Price Updates?
- 6 Are Exchanges doing anything to deter scammers?
- 7 How did it become so popular?
- 8 What is Plus Token?
- 9 Plus Token sell-offs and Bitcoin price correlation?
- 10 How did the Plus Token Ponzi Scheme Work?
- 11 How to Acquire SPU+ Tokens?
- 12 What do you think about the Plus-Coin today?
- 13 History of Plus-Coin
Overview of Plus-Coin
Plus Token Sell-offs Responsible for Bitcoin Price Drop?
Since as early as August 2019, Chinese cryptocurrency trading groups have already been circulating that due to the sheer amount involved, the scammers trying to dispose of the ill-gotten Bitcoin are pushing prices downward.And this price dump halted on 15th August 2019, coincidentally when Binance was suspended for trading because of a system upgrade.
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Is Plus Token still scamming users?
On 29th April 2020, there were screenshots of the PlusToken app circulating on Chinese social media of a supposed notice announcing that version 3.0 beta of the app is now online.Subsequently, on 4th May 2020, a further notice was issued by the PlusToken team saying that version 3.0 beta will undergo compatibility synchronization and will stop all transaction functions.The notice further added that once this version is live, some eligible users will receive a reward.However, it seems more like an effort by PlusToken’s ringleaders to placate those who have invested by giving them hope that the project may return.
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Are Exchanges doing anything to deter scammers?
Those behind Plustoken rely on cryptocurrency Exchanges to dispose of their scammed funds.Cryptocurrency exchanges do have Know Your Customer (KYC) measures in place which should identify and report any such activity since it clearly constitutes money laundering.However previous massive sell-offs by PlusToken took place in Huobi and Okex, thus demonstrating that their KYC and AML measures were ineffective in stopping them in that instance.
How did it become so popular?
Plus Token relied heavily in conferences and meetups to promote the token.The following video is taken at a Plus token gathering.
What is Plus Token?
“Plus Token” was a cryptocurrency Ponzi scheme disguised as a high-yield investment program.Platform administrators closed down the operation in June of 2019.Fraudsters abandoned the scheme by withdrawing over $3 Billion dollars in Cryptocurrencies (Bitcoin, Ethereum, and EOS) and leaving the message “sorry we have run“.This has led to an international manhunt for the platform administrators and creators of Plus Token.Plus token has been blamed for causing Bitcoin prices to fall in 2019 as stolen funds were sold via Bitcoin OTCs.
Plus Token sell-offs and Bitcoin price correlation?
How did the Plus Token Ponzi Scheme Work?
Plus Token is a classic Ponzi scheme it lures unsuspecting victims to invest with promises of high returns and low investments.Plus Token maintained an illusion of sustainable business by pretending the funds are used to develop cryptocurrency-related products such as the Plus Token Wallet and Exchange.However, returns are generated by dividing more recent investments to pay off older members.The illusion of a sustainable business is what classifies this as a Ponzi Scheme, as victims actually believe that they are investing in a business that generates high returns.
How to Acquire SPU+ Tokens?
SPU+ tokens can be acquired through purchase at various cryptocurrency exchanges.
What do you think about the Plus-Coin today?
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