In China, the court sentenced the organizers of the WoToken cryptocurrency pyramid

The court of Yanchen of the Chinese province of Jiangsa pronounced the four organizers of the Wotoken cryptocurrency pyramid, which collected $1.1 billion from August 2018 year for October 2019 of the year.

Gao Yuydun (Gao Yudong), Li cibin (Li Qibing), Van Xiaoin (Wang Xiaoying) And Tian Bo (Tian Bo) sentenced to imprisonment 2.5 to 8.8 years old. Also, the organizers of the pyramid were confiscated during the investigation $63 million.

The organizers of the pyramid promised users a fixed and variable income from investments. According to them, Profit was generated by a trading algorithm using arbitration transactions on large cryptocurrency exchanges. Of course, no algorithm existed, and profit to participants in the scheme was paid at the expense of deposits of new customers.

According to law enforcement, Wotocken participated in the pyramid 715 249 Users from China. In total, they transferred to the wallets of the organizers 46 050 BTC, 286 MLN USDT, 2 Milln ETH and 292 590 LTC. The total value of assets was $1.1 billion.

Recall, what, As reported earlier, Ciphertrace reported, For the first half of the year 2020 the years were stolen cryptocurrencies in the amount $1.36 billion.