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Protests in China continue, but the reason they have a different

FXcoins - Protests in China continue, but the reason they have a different

It became known that “the world's first wallet, which integrates all cryptographic blockchain assets on one platform” called CloudToken turned out to be the cryptocurrency pyramid which is the ecosystem of public savings has introduced a huge structure of money funds. In law enforcement agencies of China started investigating, after which it was 72 people were arrested who are suspected of involvement in the cryptocurrency pyramid CloudToken.


Complex multi-level referral marketing with high payouts is the key to success, as demonstrated CloudToken and PlusToken. It is worth noting that in CloudToken used a 21-tier payment plan to attract investors, despite the fact that the system was launched only in January 2019.


Technology the attraction is simple: after registration, the user receives a certain level, under which he receives payment, then return on investment should be at the level of 10-15%. However, the interesting point is that to participate in the program, each investor account balance of tokens had to be at least 500 USD.


Geographically CloudToken was located in China, but also promoted in other Asian countries, including South Korea, Japan, Indonesia, and Malaysia and Africa. Analysts indicate that the magnitude of the coverage of the system is so great that it can be comparable to PlusToken.


One of the victims CloudToken described in detail a system of money laundering - “the crooks stole more than $500 million from unsuspecting holders under the guise of decentralized wallet that was supposed to reward users for keeping coins. Payments had to be made in utility-token in the company. The man, who promised all the awards, has evaporated and 800 000 participants are left wondering when and how they will be able to return the money invested”.


During the proceedings, was presented additional data that indicate that victims of frauds CloudToken there were about 300 people, and the loss was over 4 million USD.


About who is the organizer of the Scam are not yet known, but experts believe that the pyramid are the same people that created wotoken and a number of other pyramids. At the time of the news release that CloudToken is Scam, police Baotou city district warned residents about the alleged exit same wotoken, after which investors began to announce the cessation of payments, but soon the app was unavailable. Meanwhile, Chanpen Zhao disown pyramid CloudToken, despite the fact that this purse pyramid PlusToken brought more than 100 million USD in ETH.

24 December 2019

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