<p>China's Ministry of Public Security has reportedly arrested all 27 major suspects of the PlusToken Ponzi scheme that defrauded nearly $3 billion from its victims.</p> <p><a href="https://www.cls.cn/detail/547074">Several</a> <a href="https://www.chainnews.com/news/162195376024.htm">Chinese</a> <a href="https://www.theblockbeats.com/newsflash#flag4">news outlets</a> reported the news on Thursday, saying that the ministry has also arrested 82 "key members" involved in the scheme.</p> <p>In August 2019, Chinese police officials <a href="https://www.theblockcrypto.com/post/36166/an-alleged-cryptocurrency-exit-scam-swindled-2-9-billion-but-main-suspects-still-on-the-run">confirmed to The Block</a> that six suspects affiliated with PlusToken had been arrested, but the main suspects were still on the run at the time.</p> <p>PlusToken was launched in early 2018 and was already suspected to be a pyramid scheme as early as September 2018. In June 2019, the company triggered a wide-ranging panic among Chinese and Korean investors when some users reported that they could not withdraw funds from the wallets. However, the issues were then brushed off as a "hacker attack."</p> <p>PlusToken <a href="https://www.theblockresearch.com/huobis-role-in-enabling-plustoken-51084">managed to collect</a> multi-billion dollars from about 800,000 investors. Over a period of time, hundreds of millions of dollars tied to PlusToken have been moved. Just last month, nearly 790,000 ETH, <a href="https://www.theblockcrypto.com/linked/69432/eth-transactions-plustoken-ponzi">worth roughly $188 million</a> at the time, were moved.</p>