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China Charges PlusToken Organizers in $2.3 Billion Crypto Scam

Chinese Crypto Mogul Emerges After Probe That Forced OKEx Halt
Photographer: Akos Stiller/Bloomberg

A Chinese court in the eastern province of Jiangsu charged organizers of PlusToken with building a pyramid scheme which collected billions of dollars worth of cryptocurrencies from members.

The ruling on 14 people including Chen Bo, who created the platform in 2018, was upheld in a second trial as final, according to a document from the Intermediate People’s Court in Yancheng city. The statement was released Nov. 26 on a website affiliated with the Supreme Court.