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On the evening of August 16, the People's Procuratorate's case information disclosure website announced that the Yancheng Development Zone Procuratorate approved the arrest of six people including Chen Bo on suspicion of organizing and leading pyramid schemes in accordance with the law.

According to the release, the People's Procuratorate of Yancheng Economic and Technological Development Zone recently approved the arrest of Chen Bo, Ding Zanqing, Peng Yixuan, Wang Renhu, Gu Zhijiang, and Yuan Yuan on suspicion of organizing and leading pyramid schemes in accordance with the law. The case is currently under further investigation.

On the evening of June 28, users of the virtual asset wallet application PlusToken continued to report that it was difficult to make payments on the platform and the currency withdrawal process had not been completed for more than 24 hours. It was later revealed that the virtual currency MLM PlusToken may involve tens of billions of funds, and it is suspected that the person Ding is involved
The pronunciations of the names of zan qing, Yuan Yuan, Chen bo, Wang ren hu, etc. are consistent with those of the persons arrested in the above-mentioned pyramid scheme cases. Chen Bo is suspected to be Plus
Chen Zihan, manager of Token China.

On the official website of the Ethereum block explorer address, the previously rumored PlusToken Ethereum address showed that the address was reported for being used in the PlusToken Ponzi scheme. There are currently 780,000 Ethereums in this address, worth $145 million. When PlusToken was exposed, the wallet’s 780,000 Ethereums were worth $230 million.

The official application previously showed that PlusToken supports recharge of 9 virtual currencies including PLUS, Bitcoin, etc. Wallet addresses for other currencies have not yet been exposed. According to media exposure such as Bihei, the amount involved in the pyramid scheme is suspected to be tens of billions.

Public information shows that the platform claims that it has more than 3 million users. PlusToken Intelligent Brick Weibo published content on June 8 that "data from the platform shows that the number of PlusToken users has reached 34% of 10 million." That is, the PlusToken application may have 3.4 million users.

In March 2019, the Wenyuan Police Station in Tianxin District, Changsha City investigated and dealt with the local Plus Token blockchain wallet promotion den. The police found that Plus
Token blockchain wallet is suspected of pyramid scheme. Relevant information shows that Plus
Token claims to be a smart brick-and-mortar wallet, Yu’ebao in the currency circle, and the team is from South Korea. If an investor deposits 1 million yuan, he can earn 7 million yuan in one year with compound interest.

It claims that users invest in Plus
Token Smart Brick Wallet, in addition to capital guarantee, can also obtain 10% to 30% monthly income, directly develop a downline reward of 100%, and the second to tenth floors each receive 10% reward. The police said that "PlusToken Wallet" used the name of "blockchain" to collect threshold fees, develop offline, and receive rewards at various levels, which has the typical characteristics of a pyramid scheme.

After the PlusToken redemption difficulties were exposed, a blockchain institution issued a statement to clarify the relationship with PlusToken. On the 29th, the official public account of WBF New York World Blockchain Conference stated that PlusToken had named and sponsored the WBF World Blockchain Conference Jeju Technology Conference on September 14, 2018. Due to the insufficient rigorous review of the cooperation on the project, subsequent The conference apologized for a series of stand-up incidents.

According to reports, WBF Conference founder Zhao Sheng and co-founder Yuan Zhengzhong were accused of investing in PlusToken through their capital. Public information shows that Zhao Sheng’s identity also includes the founder of Silicon Valley Maker Capital in the United States, and Yuan Zhengzhong is the founder of Yitong Capital.

According to the official website of WBF New York World Blockchain Conference, the organization was registered in New York in 2017 and has central offices in New York, Singapore, Shanghai, and Seoul.