PlusToken to be Suspected of $3B Scam - Media

PlusToken was launched in 2018 and the wallet was positioned as a decentralized solution and an “international cryptocurrency project,”
02 July 2019   1157

According to 8btc, the creators of the PlusToken wallet allegedly disappeared with $ 3 billion in user funds. The publication emphasizes that today it is the largest exit scam and Ponzi scheme in China.

Many users of social networks complain that they have been unable to withdraw funds for several days:

PlusToken Users
PlusToken Users

At the same time, since June 29, the course of the native token of the PlusCoin platform “hangs” at $ 139,237, absolutely not changing. According to investors, the project team disappeared with assets of 20 billion yuan (about $ 3 billion).

781,000 ETH is stored on one of Ethereum's PlusToken addresses (more than $ 220 million at the current exchange rate). In addition to the ether, the wallet allowed to store Bitcoin, Bitcoin Cash, Litecoin, XRP, Dogecoin and DASH.

PlusToken was launched in 2018. The wallet was positioned as a decentralized solution and an “international cryptocurrency project,” allegedly supported by a team from South Korea and promoted mainly in Asian countries such as China, Japan, Myanmar, Vietnam, as well as in the EU and Russia.

On the project website it is indicated that the co-founder of PlusToken is a certain Mr. Leo, however, almost no additional data about him. Also, some information indicates that the wallet was developed by one Chinese company based in Jiaxing (Zhejiang Province).

The company was characterized by clear signs of a financial pyramid. Thus, investors were offered a referral system and the opportunity to receive monthly funds from 6% to 19%.

Previously, the company set an ambitious goal - to increase in 2019 the user base to 10 million people. Last month, PlusToken reported 3 million registered users.

In March, police in the southern province of Hunan initiated an investigation into the Ponzi-scheme PlusToken. Since then, the head of the Chinese division, Chen Bo, with five other project-related citizens of the PRC, has been on the run.

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   933

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.