Chinese law enforcement seized $4.2 billion in PlusToken Ponzi scheme
According to The Block, crypto assets worth more than $4.2 billion at today’s prices have been seized in Chinese law enforcement actions in the PlusToken Ponzi scheme. The seized cryptos will be forfeited to the national treasury. The scammers allegedly cheated more than 2 million people out of more than $7.6 billion. So far, 16 people have been convicted and received prison-terms between two to 11 years as well as fines between $100,000 to $1 million.