A new Chinese Bitcoin Ponzi scheme has absorbed roughly $11 million in Bitcoin in less than one month of operating.
Antimatter Kingdom (AK), a new Chinese crypto Ponzi scheme, appears to have netted $11 million worth of Bitcoin (BTC) in less than one month of operating.
Upon launching at the start of April, AntiMatter Kingdom described itself as “a super mining application group” operating on the CXC chain.
The press release boasts that AK reduces its supply by 18% every 90 days, urging investors to capitalize on the “huge opportunity.”
CXC claims to comprise a “revolutionary blockchain business structure” allowing it to “compete with the cruel cosmic entropy law and make the development of commercial civilization lasting and orderly.”
Investors are supposedly allowed to tap into AK’s cosmic capabilities through a variety of cloud mining schemes in exchange for BTC — promising exponential returns in the form of “continuously transmit[ting] the growth force for the source ecology.”
AK garners eight-figures in three weeks
While AK claims to have absorbed 180,000 Bitcoins, it appears that the scheme has netted closer to $11 million in BTC — with a wallet that blockchain analysis Ergo has associated with the scheme having received 1,607 Bitcoins as of this writing.
The scheme follows the enormous PlusToken scam, which absorbed $1.4 billion in Bitcoin during 2019.
PlusToken reached heights unprecedented by a crypto scam, sponging 200,000 or approximately 1% of Bitcoin’s total supply.
As a consequence of its success, blockchain forensics firm Chainalysis believes that attempts from PlusToken’s operators to liquidate their stash impacts the price of Bitcoin.
