Monday, May 10, 2021

Crypto Scam PlusToken Moved 789,534 ETH worth $188M in a Pair of Transactions

The sum of 789,534 ETH worth relatively $188 million at press time, was reportedly transferred from PlusToken Ponzi scheme wallet to an unknown wallet in a pair of transactions.

The first transaction can be seen here, while the second transaction can be seen here. As a report has it, the last time these funds were transferred was December 2019.

“789,534 ETH (187,847,558 USD) transferred from PlusToken to unknown wallet,” Whale Alert reported.

It was also reported about two days ago that a huge transaction of EOS was moved from a PlusToken wallet. The report stated that about $67 million in EOS was moved into a new address.

PlusToken is well-known for its dubious activity. It has always been classified as one of the biggest crypto-related scams since the industry emerged.

The PlusToken Ponzi scheme was purposely designed for the buying of PLUS tokens by its users, assuring them a high rate of returns.

As of 2019, the Ponzi scheme had accumulated about $2.9 billion in various crypto assets. However, the creator of PlusToken has since been arrested, but the accumulated funds are still circulating as reported by Chainalysis.

Also, as reported in February 2019, over $117 million Bitcoin (BTC) attached to the PlusToken Ponzi scheme were moved to two different addresses.

Considerably, several moments of huge price dumps experienced by digital currencies in the crypto market are possibly caused by the sell-offs of various tokens accumulated by the crypto scam PlusToken.

Ethereum (ETH) and other Cryptocurrencies in the Market

Over the past few hours, the price situation in the crypto market has not been favorable to the top cryptocurrencies, including the leading digital currencies Bitcoin (BTC) and Ethereum (ETH).

A few minutes ago, Ethereum lost important support levels after experiencing a sharp price downtrend, likewise Bitcoin (BTC). At the time of publication, ETH is trading at $233.74, with approximately 4% price plummet in the last 24 hours.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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