PlusToken Ponzi Update: Scammers Move $117 Million Worth of BTC To New Address

Bitcoin scam

PlusToken Ponzi Update: Scammers Move $117 Million Worth of BTC To New Address

Chinese operated PlusToken Ponzi scheme has just moved its BTC. The scammers who duped investors of billions worth of cryptocurrencies have just moved the $117 million of BTC associated with them to a new address. The recent transaction means the scammers could be getting ready for something big.

Scammers Could Dump

Last year, Chainalysis, a blockchain firm, tracked 45,000 BTC ($302 million) and 800,000 ETH ($102 million) which was transferred from PlusToken’s wallets and into individual wallets. Of the total, the firm noted that the scammers were getting ready to dump 20,000 BTC. This at the time caused much panic with prices expected to plummet.

Around $117 million worth of the BTC associated with the scammers has moved again. The BTC has now moved to this address, 19bMszbozeHyjANgSyM9iyjsZU1sKsR6uM. The transaction was confirmed by lead researcher, Larry Cermak shortly after the transaction was completed.

This could be an attempt by the scammers to try and hide their movement, but it is one that hasn’t been properly executed. Many are still observing the tokens in an attempt to uncover the scammers. It is also critical to the tokens’ price as such a large amount could easily tip the market.

The PlusToken Ponzi scammers are believed to have made away with at least 180,000 BTC, 6,400,000 ETH, 110,000 USDT all which could easily make $2 Billion.

Summary
PlusToken Ponzi Update: Scammers Move $117 Million Worth of BTC To New Address
Article Name
PlusToken Ponzi Update: Scammers Move $117 Million Worth of BTC To New Address
Description
Chinese operated PlusToken Ponzi scheme has just moved its BTC. The scammers who duped investors of billions worth of cryptocurrencies have just moved the $117 million of BTC associated with them to a new address. The recent transaction means the scammers could be getting ready for something big.
Author
Publisher Name
CoinGape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: John Kiguru

John is an outstanding writer with a great love for cryptocurrency and its underlining technology. Kiguru is an astute believer in cryptocurrency and blockchain technology and looks up to exploring digital innovation. Follow him on Twitter @Shawn254Guru

Post your comment...
John Kiguru 67 Articles

John is an outstanding writer with a great love for cryptocurrency and its underlining technology. Kiguru is an astute believer in cryptocurrency and blockchain technology and looks up to exploring digital innovation. Follow him on Twitter @Shawn254Guru

Follow John @