Plustoken Scam Moves 11,999 BTC (to Privacy Mixers?) - Bad Timing or Catalyst for BTC Dump

By B18 | B18 | 10 Mar 2020

The Plustoken ponzi scheme amassed 187,000 BTC and has been sporadically liquidating their ill gotten gains. Impacting the market price of Bitcoin in the process. The scam was so big it sucked in 1% of the circulating supply of Bitcoin, mainly from Chinese investors who were promised Plustoken would provide them with payouts in perpetuity.

11,999.96928806 BTC was moved

In the past the ill gotten gains have been moved through a privacy mixer before being moved to exchanges where it is assumed they are exchanged for fait.

In August, the Plustoken members still at large attempted to mix large quantities of coins through Wasabi Wallet before sending most of them to Huobi.

There is also Plustoken's stash of ETH. A Chainanalysis report tracked at least 800,000 ETH was moved from the official Plustoken wallet to the scammer's own wallets to launder. There is also 790,000 ETH in another wallet that is untouched.

Once these have all been liquidated or the last of the scammers arrested, it should take some of the pressure off the sell side of the market.

Watch this space.

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Bitcoin (BTC) Scam Bear Market ponzi scheme Plustoken

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B18

I am a sun sea and sand person, chocolatier, grows organic vegetables, rides a Vespa and collects crypto.

B18

Bought our 1st pieces of BTC, July 2017. The process was daunting and confusing. Could easily given up & put it in the too hard basket or have fallen victim to one of the many scams or pitfalls. Grateful to a friend of my son's, who had been in this space for awhile, giving me some good advice & steering me in the right direction. That experience has helped shape my desire to share what I learn. Also always had a morbid fascination with Snake Oil Salesman & their sales pitch; Bitconnect, USI Tech..