Seems like the price has mostly recovered today, so the recent crash was just a panic and manipulation rather than something fundamental - and it would have been really surprising if some Chinese Ponzi could have influenced the price for a longer period of time.
It could have a longer term effect if they are still slowly bleeding the supply into the market. It's comparable to the Mt. Gox bankruptcy trustee
selling off similar amounts of bitcoins last year. Even though the bitcoins are sold OTC, most of that supply probably lands on exchanges.
I would consider this fundamental supply and demand, not manipulation. Chinese people were still buying BTC and ETH to put into PlusToken until late June. That demand was driving market prices up. The supply accumulated by the scammers pushed them back down.