Huobi's involvement in the PlusToken Ponzi scheme

Quick Take

  • PlusToken, the Chinese multi-billion dollar Ponzi scheme, went largely unnoticed in the West until August
  • While the three reports on what happened disagree on some aspects, they all agree about one thing — Huobi’s involvement
  • Even though it’s not clear whether the PlusToken dump contributed to Bitcoin’s price decline, it’s undeniable that scammers sent the majority of the funds to Huobi
Even though PlusToken, the Chinese multi-billion dollar Ponzi scheme, went largely unnoticed in the West until August, everyone is keeping an eye on it now. The Ponzi scheme promised users returns of up to 30% and then finally collapsed in June after running for more than a year. Chainalaysis, the largest blockchain analysis firm, tracked […]

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