Chinese Police Seized $ 4.2 Billion of Crypto Money!
Chinese police seized $ 4.2 billion of cryptocurrency from the PlusToken edition. For the first time, a Chinese court detailed the breakdown of all crypto assets seized by police during the PlusToken Ponzi plan edition. Assets captured are worth more than $ 4.2 billion at today’s prices. The court said that the seized cryptos will be “processed according to the law” and “transferred to the national treasury”.
Crypto assets worth more than $ 4.2 billion were seized by Chinese police during the massive PlusToken Ponzi pressure, according to a new court ruling. The Jiangsu Yancheng Intermediate People’s Court detailed the breakdown of all crypto assets for the first time in its decision made public on Thursday.
Of the seven prisoners, a total of 194,775 BTC, 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH and 213,724 USDT were seized by Chinese law enforcement. At today’s prices, these assets total over $ 4.2 billion. As part of the verdict, the court said “seized digital currencies will be processed according to the law, and revenues and earnings will be returned to the national treasury.
Over 2 Million People Defrauded
However, the Yancheng Intermediate People’s Court did not elaborate on how much of the seized cryptocurrencies were “processed” or “processed”, or exactly what method to use. The PlusToken criminal case was first decided on September 22 by a lower-level district court in Yancheng, China’s Jiangsu province. Local media reported that the brain behind the cryptocurrency Ponzi scheme has defrauded more than 2 million people for more than 50 billion yuan or $ 7.6 billion.
However, the details of the initial decision were not made public, as several convicts of the case appealed to a higher court. The Yancheng Intermediate People’s Court dismissed the appeals and sided with the district court in its final decision on November 19 and released the details of the criminal case.