Chinese police confiscated $4.2 billion in cryptoactives from PlusToken

The court files of 19 November show that a large volume of cryptoactives, including Bitcoin and Ether, was seized from seven convicts in the PlusToken case.

The PlusToken controversy, which has resulted in the arrest of 109 people so far, has also led to a large seizure of cryptoactives by Chinese authorities worth $4.2 billion at today’s price.

Chinese authorities prosecute six people for the $5.8 billion Ponzi PlusToken scheme
According to court documents publicly released on 19 November and published by The Block, the authorities seized the massive amount of 194,775 Bitcoin (BTC), 833,083 Ether (ETH), 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash, 487 million XRP, 6 billion Dogecoin (DOGE), 79,581 Bitcoin Cash (BCH) and 213,724 Tether (USDT) from seven people convicted in the case.

According to the ruling of the Yancheng Intermediate People’s Court, the proceeds of the seized cryptoactives will go to the national treasury. Precise details of how the assets will be treated and processed under national law have not been fully detailed.

The PlusToken scheme, which first published its white paper in February 2018, had been presented as a South Korean crypto currency and wallet exchange provider that could provide users with interest-bearing accounts capable of generating between 8% and 16% monthly returns, with a minimum deposit of $500 in crypto assets.

Vanuatu extradites six Chinese nationals allegedly involved in crypto-scheming
According to local reports in September 2020, PlusToken attracted 2 million members between May 2018 and June 2019.

The Yancheng Intermediate People’s Court puts the The News Spy estimated number of members at 2.6 million and describes that the scheme absorbed 314,000 BTC, 117,450 BCH, 96,023 Dash, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS and 928 million XRP by 27 June 2019.

At the time of their absorption, these funds were allegedly worth about 15 billion yuan, approximately $2.2 billion. In current bull market conditions this is significantly higher.

Some of the funds were used to encourage members to recruit new targets, while some were charged for daily expenses and personal expenses by the scheme’s managers.

Australian Bitconnect promoter faces up to 47 years in prison
By the summer of 2019, the scheme had ceased operations, citing an alleged „system maintenance“ in what appears to have been one of the industry’s largest exit scams. Chinese authorities approached, arresting and/or detaining many of the key people involved.

The Yancheng Intermediate People’s Court ruling states that 15 people have so far been sentenced to between two and 11 years in prison and fined between $100,000 and $1 million.

5 Black Friday Bitcoin Deals Not To Be Missed

Black Friday Week heralds the Christmas business with rich discounts. The week of the bargain hunters also offers some top deals in the crypto space. Today we’re introducing you to five Black Friday deals that shouldn’t be missed.

5. Black Friday Deal at Trezor | -20%

The crypto community in particular should sit up and take notice when they hear the words Cold Storage and Black Friday Week in one sentence. Because Bitcoin Evolution puts its entire focus on securing crypto currencies and is ideally suited for the storage of crypto currencies. The company also has a comprehensive range of hardware wallets.

From November 23 to 29, buyers will receive 20 percent off all hardware wallets from Trezor. A look at the Trezor Shop therefore can’t hurt

4. Ledger | -40%

But the competition never sleeps. In addition to Trezor, Ledger also grants a price discount on its hardware wallets. Be Your Own Bank has become a well-known phrase in the crypto space and crypto investors can dream of this with a hardware walletthat are affordable for everyone. The Ledger products offer a reliable level of security and right now the purchase of a hardware wallet can be particularly worthwhile.

During Black Friday Week, Ledger is offering a 40 percent discount on its entire range of hardware wallets. It’s worth taking a look at the website.

3. CryptoCloaks

CryptoCloaks LLC is a company that was born out of a love for 3D printing and a passion for Bitcoin. On CryptoCloaks you can buy a wide variety of Bitcoin and crypto gadgets. For example, there are holders for hardware wallets, bitcoin spinners, crypto key rings and many other products that are ideal for crypto enthusiasts.

During Black Friday Week, buyers receive a 10 percent discount on all CryptoCloaks products. So if you are still looking for Christmas gifts for your crypto friends, you should visit the CryptoCloaks shop definitely look.

2. Tradingview

Tradingview has interesting Black Friday offers for those interested in trading and those who want to deal more intensively with the price development of various crypto currencies.

The trading platform grants huge discounts on all subscriptions

For example, traders with Pro + can compare four charts at the same time, which is a real advantage in chart analysis. In addition, the subscriptions offer advantages such as additional indicators, more precise chart data and a user-defined layout that can be individually adapted as required. Keep an eye on the Black Friday offers throwing might pay off for those interested.

1. Binance Black Friday: 50% off Bitcoin purchases

The world’s largest crypto exchange also has an interesting Black Friday Week offer. Every new user gets the chance to buy Bitcoin on Binance for a discount of 50 percent. All you have to do is open a Binance account and complete two simple tasks.

When you have completed this simple task, you will automatically be entered into a raffle. In this raffle 40 lucky winners will be selected who will receive a 50 percent discount on their next Bitcoin purchase.

Lithuania’s tax service just won € 6.3m thanks to cryptocurrencies

What are governments and institutions doing with cryptocurrencies seized by law enforcement? They sometimes sell them. This is what the Lithuanian tax service did, pocketing the jackpot in the process.

Lithuanian tax service gets rid of cryptocurrencies

According to the media Delfi , the assets had been “ confiscated“ by the police. However, this is the first time that a Lithuanian government institution has chosen to offer cryptocurrency for sale. From Bitcoin Circuit app of the Ether (ETH) and Monero (XMR) were sold, which has identified 6.3 billion euros, which directly integrated government coffers.

A representative of the tax inspectorate, Irina Gavrilova, explained that the maneuver took some time, because of its novelty:

“The whole process was new to the tax administration , starting with taking over the confiscated cryptocurrency, which ended with its sale. “

In total, the process took nearly a day, according to the Lithuanian tax service. But it should be made easier as it becomes a habit.

Who wants my cryptos?

We note that more and more governments are choosing to sell their stock of seized cryptocurrencies , when the ongoing investigations are completed. This year, this had already been the case in Belgium, where the government had raised € 110,000 by selling cryptos . It should also be noted that Lithuania had already shown significant openness to the field , by offering LBCOIN collection tokens distributed by the central bank.

Ripple Board Member Arrested for Cyber Stalking

  • Ken Kurson ble arrestert for trakassering av ekskone sine medarbeidere.
  • Kurson var tidligere sjefredaktør for New York Observer og bisto Donald Trumps presidentkampanje i 2016.
  • Siste i en serie kontroverser for Ripple Labs

Ken Kurson, et fremtredende medlem av Ripple Labs ’styre, er arrestert av føderale myndigheter på sikt for Cyberstalking.

Kurson – en nøkkelarkitekt i Donald Trumps presidentkampanje i 2016 – er først og fremst kjent for sitt arbeid som sjefredaktør for New York Observer fra 2013 til 2017. I kryptosamfunnet er han kjent for å grunnlegge nyhetssiden Cryptocurrency, Modern Consensus.

I 2017 fikk hans arbeid for Modern Consensus ham en stilling i Bitcoin Revolution ’styre. Selskapet oppga hans “unike” analytiske evner og markedserfaring som årsaken til å tilby ham en så prestisjefylt jobb. Denne stillingen er nå i fare som et resultat av hans påståtte forbrytelse.

I dag avslørte en rapport fra New York Times at Kurson blir beskyldt for å ha truet tre av ekskoneens medarbeidere og trakassering av to andre. Han skal angivelig ha ansvaret for ofrene for den nylige skilsmissen. Minst ett av Kursons påståtte ofre betraktet ham som en venn. Det påstås videre at Kurson brukte flere aliaser i et forsøk på å skjule sin trakasseringskampanje.

FBI – som arresterte – har også bevis som antyder at Kurson brukte Keylogging-programvare på minst ett av ofrenes datamaskiner.

Et dårlig blikk for Ripple

Kursons arrestasjon er forferdelige nyheter for Ripple Labs. Selskapet har ofte hevdet kontrovers siden 2015. Høytprofilerte saker inkluderer FinCENs beslutning om å bøte selskapet 700.000 dollar i mai 2015 for brudd på bankhemmelighetsloven. Selskapet møtte også en søksmål i fjor som påstod ulovlig handel med sin egenutviklede kryptovaluta, XRP.

Ripple Labs har foreløpig ikke gitt ut en uttalelse angående arrestasjon av Mister Kurson. Gitt at arrestasjonen skjedde 24. oktober, virker det lite sannsynlig at de vil gjøre det. Uansett kan denne siste kontroversen skade investorens tillit til Ripple Labs og ytterligere skade selskapets image.