WoToken
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anchored·3SsZ6w…EXBSSummary
WoToken was a Chinese cryptocurrency multi-level marketing Ponzi scheme that operated from July 2018 to October 2019, defrauding approximately 715,249 investors of roughly 7.7 billion yuan (approximately $1.1–$1.15 billion USD) in cryptocurrency. Six defendants were tried in May 2020 and four primary operators received prison sentences of up to 8.5 years following a second-instance ruling by the Intermediate People's Court of Yancheng City, Jiangsu Province in October 2020. At least one operator was reported to have prior involvement in the PlusToken scheme, leading observers to describe WoToken as 'PlusToken 2.0.'
Connected Entities
2 entities · 2 linked investigations- WoToken→mentioned with→PlusToken(80%)
Connected Through
1 shared actor · 2 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □PlusTokenorganizationalso in
Timeline(9 events)
July 2018
WoToken founders conceived the scheme and began building the platform
CoinGeek / CryptoPotatoAugust 2018
WoToken launched operations, accepting cryptocurrency deposits from investors across China
Bitcoin.com NewsJuly 2019
PlusToken scheme dismantled by Chinese authorities; WoToken continued operating independently
CoinTelegraph8 October 2019
WoToken had accumulated 715,249 users and 7.7 billion yuan in crypto assets across 501 MLM levels
The Block4 April 2020
WoToken blocked user withdrawals, citing alleged technical issues, precipitating collapse
Quadriga Initiative14 May 2020
Trial of six WoToken defendants began in the People's Court of Binhai County, Yancheng City
CryptoPotato27 October 2020
Intermediate People's Court of Yancheng City denied all appeals and issued final sentences: Gao Yudong 8.5 years, Li Qibing 7 years, Wang Xiaoying 7 years, Tian Yongbo 2.5 years
Blockcast.cc / Bitcoin.com NewsDecision Log
- slot 423509414 · hash 6s3yuG6h4JzCHVU4v6Hk6DXmCmzPiVzCGEmjRoeHNsHM
- slot 423509411 · hash 2mQhBaVNKatmcaLUUkEkxetJHBvfJCsQ2rAMc62pM7Fz
- slot 423445735 · hash 13bev2dtYokTb2hwZFRm73nqeQoNyzsw83X9ZtBmfoY
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 13 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/31/2026, 8:20:45 PM
last updated: 5/31/2026, 8:20:45 PM
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