At the end of June 2019, on a quiet morning, the Chinese police traveled halfway around the world to the South Pacific island country of Vanuatu and kicked open the door of the criminals' house. This is an astonishing number, 2.7 million people, 3,000 floors, bloodbath, amounting to 120 billion yuan... These words are shocking and unbelievable.PlusToken, the once-famous "largest fund in the currency circle", has made countless investors trapped in it and unable to extricate themselves. The scam carefully designed by its founder Chen (pseudonym) and his team involved as much as 310,000 bitcoins, which once caused investors in more than 170 countries around the world to panic. Among these investors, there are many big Vs and celebrities.PlusToken's operating model is a typical "pyramid fund-raising", making profits step by step by attracting people and developing offline. Chen and others used social media platforms to promote their platform, claiming that their platform could make money while lying down, attracting the attention of a large number of investors. Investors are often fooled by the propaganda of high returns and low risks, and invest their own assets one after another.However, behind these high returns are often huge risks. PlusToken took away countless people’s savings in just a few months, leaving many people in despair. It is reported that one victim even went to a dead end because of this incident, which is heartbreaking.In November 2020, the court issued the verdict of the case, and Chen and others were sentenced to heavy sentences. This shocking case has finally come to an end. However, the damage caused by this case is irreparable. Countless families have been broken up as a result, and the wounds in people's hearts are difficult to heal.In this case, we can see the pitfalls and risks behind “high returns”. Investors are often confused by the immediate benefits and ignore the potential risks. This also reminds us that investment is risky and we need to be cautious when entering the market. When facing similar high-yield publicity, we must keep a clear mind and not blindly follow the trend. Only by investing rationally can we avoid falling into traps.In addition, this case also allows us to see the problem of lack of supervision. In the PlusToken scam, investors came from more than 170 countries around the world, but it is a pity that the regulatory authorities did not discover and stop this behavior in time. This also demonstrates the importance of regulatory cooperation on a global scale. Only by strengthening international cooperation and jointly combating transnational crimes can we create a safer and more equitable investment environment for investors.In short, this case of "the largest fund in the currency circle" has brought us profound lessons. It reminds us to keep a rational investment mind and not to be tempted by high returns and ignore risks; it also allows us to see the problem of lack of supervision and the need to strengthen international cooperation to jointly combat transnational crimes. We hope that the investment environment in the future will be more rational and regulated, and less blind and trap-heavy.#BTC
