The Chinese authorities have confiscated crypto coins worth more than $ 4.2 billion.

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Crypto Scam

The Chinese authorities have confiscated crypto coins worth more than $4.2 billion connected to the notorious Plus Token scam, local court files reveal. That, however, is only a small part of the total amount more than $11 billion having been stolen from over 2.6 million investors worldwide. A local court, having convicted 15 individuals linked to the crypto scam on Nov 19, gives them jail sentences around 2 to 15 years and fines around $100,000 to $1 million. Originally the local police have arrested 27 persons in connection to the scam.

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