On November 26, the final verdict of the PlusToken MLM case that shocked the global cryptocurrency industry was announced.
A native of Changsha, Hunan, who only had a basic Chinese chemical background, raised 310,000 Bitcoins; 9.17 million Ethereum; more than 51 million EOS, etc. Its model is also very simple Ponzi + MLM, raising funds and promising interest, and developing online and offline.
The focus of attention from all walks of life is mostly on the 190,000 Bitcoins, 830,000 Ethereum, 27.24 million grapefruit coins seized by the public security organs and so on. How to deal with this money in the end, the judgment document has three expressions:
First, detained part of the platform’s digital currency from the defendants Chen Bo, Ding Zanqing, and Peng Yixuan.
Second, the evidence in the case confirmed that Chen Bo applied to the Yancheng City Public Security Bureau to entrust Beijing Zhifan Technology Co., Ltd. to sell the digital currency seized by the public security agency in accordance with the law, and all the money was used as his refund. Based on this, the court of original trial determined that Chen Bo withdrew part of the money and imposed a lighter punishment on him as appropriate.
Third, the seized digital currency shall be handled in accordance with the law, and the funds and proceeds obtained shall be confiscated in accordance with the law and turned over to the state treasury.
There are two main parts of the seizure, one is the digital currency raised by the platform, and the other is the profit of multiple defendants.
Criminal lawyer Huo Yijie told Wu Blockchain that after the platform is identified as an MLM organization, generally only the organizers and leaders are held criminally liable, which constitutes the crime of organizing and leading MLM activities. In judicial practice, other participants are generally not recognized as criminal victims. Therefore, after the relevant illegal income is recovered, it shall be confiscated according to law and all shall be turned over to the State Treasury.
Here, the famous Beijing Zhifan Technology Co., Ltd. appeared. The investors of this company included Huobi co-founder, Kushen Wallet Yuan Dawei, and well-known Amber investor and Binance shareholder Chen Weixing.
The target of Zhifan Technology is Chainanalysis, a well-known American organization. This American company mainly provides technical services for government blockchain and cryptocurrency supervision. It is raising US$100 million at a valuation of US$1 billion. Zhifan Technology is the same. The report in early 2019 stated that it has reached cooperation with the public security departments of more than ten provinces and cities across the country. There are more than 30 specific cases, covering mainstream currencies such as BTC and ETH, and the amount involved is as high as several billion yuan. The scale.
Jiang Zhuoer and Wu said that the blockchain has obtained similar information. After communicating with a number of OTC vendors, it is determined that these coins have sold a large part of the BTC$7000-$12000 period between the end of 2019 and the middle of 2020. The verdict’s “funds and proceeds shall be confiscated in accordance with the law and turned over to the state treasury”, which also confirms this statement to some extent.
According to 86 Caiyu No. 228: All the fines and confiscated incomes investigated or imposed by the administrative agencies for industry and commerce, public security agencies, people’s procuratorates, people’s courts, and local state economic management departments shall be turned over to the local treasury. The local finance of Yancheng may gradually have larger revenues. This may also be the motivation for Yancheng to crack down on this industry. Why did the Yancheng police crack down on “disc/amber” after grabbing the plustoken before grabbing the gigabit mining machine? (depth)
There has always been a high degree of concern overseas for PlusToken’s currency holding address, and it has also triggered considerable discussions. The well-known trader Light also stated on Twitter that PlusToken entered Huobi in 2019 (after being arrested) and now it appears to have been sold.
However, overseas media and KOLs from the address tracking believe that the majority of bitcoins are currently sold through Huobi, but it seems that there are still 15,000 BTCs that have not been sold; in addition, overseas analysts generally believe that the ETH address is not change.
Wu said that the comprehensive judgment of the blockchain believes that the address tracked by the police is not exactly the same as the address tracked overseas. In addition, there are also addresses that the police continue to track. The document also emphasizes: the part of the stolen money that the defendant’s relatives and friends did not withdraw and the defendants The part of the illicit money, investment part and income that have not withdrawn from the whole case shall be recovered by the branch directly under the Yancheng Public Security Bureau and turned over to the State Treasury.
In the document, the police verified that the amount of the platform was 310,000 Bitcoins; 9.17 million Ethereums; more than 51 million EOS, etc.; recovered and seized 190,000 Bitcoins, 830,000 Ethereums, and 27.24 million grapefruits. Currency etc.
(The head picture comes from darkweblink)
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