Plus Token and investor searching behaviour - A cryptocurrency Ponzi scheme

【Author】 Zhang, Shuyu; Zhang, Dunli; Zheng, Jianming; Aerts, Walter; Xu, Dandan

【Source】ACCOUNTING AND FINANCE

【影响因子】2.473

【Abstract】In July 2020, the Chinese government warned that the Plus Token was a Ponzi scheme based on blockchain. More than 200 million investors were involved in this scam. We investigate how investors' search behaviour is associated with their decision making. We find that the bitcoin bag of words Baidu index is positively and significantly related to bitcoins transferred to Plus Token addresses, suggesting that public prominence of searches about bitcoin and blockchain tends to be related to investor decisions regarding the Plus Token project.

【Keywords】blockchain; cryptocurrency; Plus Token; Ponzi; search engine

【发表时间】2023 2023 JUL 17

【收录时间】2023-08-10

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-欺诈犯罪