PlusToken ETH Scam worth $180 million was just moved from a previously dormant wallet that belonged to the fraudsters of the PlusToken scam, as we reported in the previous Ethereum news.
PlusToken is considered a Ponzi Scheme that operated mainly in China and Korea back in 2018 and 2019. The scammers managed to drain more than $3 billion from investors right before the project got shut down in June 2019. The movement of 789,534 ETH from PlusToken Scam wallet was announced on June 24 by Whale Alert. The entire transaction is worth $187,847,550 at the time of writing and this is the first time a move like this happened.
All of the ETH was transferred from a wallet under the name “PlusToken1” to the one market “PlusToken2” in December 2019 as it was reported at the time. Most of the observers in the crypto space prepared themselves for a major Ethereum price dump but the coins then stayed dormant for another 188 days according to Etherscan. The number of ETH in the wallet was a little bigger today than it was back in December thanks to the actions from cryptocurrency beggars.
The users kept on sending small fractions of ETH to the scam address hoping that the criminals will share some of the gains. The comments left on the Etherscan address page are typical to crypto beggars. After getting moved from PlusToken2, the 789,534 ETH was moved to another address before getting split up into 25 different addresses. The transactions are still pending and their values range between 109 ETH and 8,758 ETH. So far, none of the coins made it to exchanges. This could change however depending on where the pending transactions end up. All of the stolen EOS and PlusToken scams have been moved multiple times at different points over the past three months.
As recently reported, The PlusToken Perpetrators move $24 million in EOS coins into an unknown address and the on-chain data reveals that the altcoin could go into a huge sell-off. The historical data suggests when individuals such as the PlusToken perpetrators moving coins means they will sell them and it could boost the selling pressure behind EOS which could crash it below $2. The PlusToken Ponzi scheme looks like it is prepared to dump $67 million on the market which could cause the price to crash.
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