EOS Price Nosedives after Daniel Larimer Announced His Resignation as Block.one CTO
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The popular Ponzi scheme, PlusToken, reportedly moved 26,316,339 EOS worth $67 million from its main account to an unknown wallet.

Whale Alert, the tracker of large cryptocurrency transactions from and to exchanges, reported the huge transaction some hours ago.

According to the report, the transaction was initiated on 22nd June 2020, at 08:18:13 UTC, from a wallet owned by the crypto scam PlusToken to an unknown wallet jnhgvbkkfdjf.

Whale Alert shared this, “26,316,339 EOS (67,139,663 USD) transferred from PlusToken to unknown wallet.”

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Further information about the transfer states that the Ponzi scheme is probably getting to move the $67M worth of EOS to cryptocurrency exchanges and dump on the market.

However, the market could still absorb a possible sale with no notable impact on the price of EOS, as the digital currency maintains over $1 billion volume on a daily basis.

At the time of filing this report, EOS is trading at $2.56, with an approximately 1% price uptrend in the last 24 hours. And 24H volume of $1,240,615,093.

About PlusToken Ponzi scheme

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.

With the look of things, 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.

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Tobi Loba

By 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.