zycrypto.com
- According to data from the EOS blockchain, a wallet that held over 26 million EOS tokens (worth $67 million) has moved the coins to an unknown wallet. In July 2019, this project was accused of being a Ponzi scheme that stole over $3 billion from its investors. The PlusToken is allegedly yet another Ponzi with founders dumping fraudulent tokens on the retail market.
Per the Whale Alert crypto transactions tracking bot, PlusToken address moved 26,316,339 EOS tokens to an obscure address. The tracking software has not marked the address as belonging to exchanges, so the nature of the transaction is unclear. Market analysts are sure about the coming price crash in case the transaction means PlusToken architects are going to cash out again.
The PlusToken founders already raised concerns regarding the weight of their dumps on the market as seen in the price action of Bitcoin and Ethereum. These sorts of transactions usually give birth to negative price trends.
PlusToken Dumps Drives Markets Down
Per researcher Kim Grauer from Chainalysis, the Ponzi scheme has been dispersing funds via OTC brokers. This caused price drops on the market, specifically in the sector of the mainstream coins like BTC and ETH. She thinks PlusToken wallets are “certainly something to consider when you are thinking about where the price is going, at least in the short term”.
Previously, Chainalysis reported that PlusToken wallets have exported more than 20,000 bitcoins to over 8,700 presumable OTC traders. They were cleaning the illicit funds gained from Asian investors. PlusToken is a wallet service that was accused of stealing funds, money laundering, and more. The history of PlusToken is full of unanswered questions: nobody knows the total number of scammers standing behind the scheme, and their names are the mystery too.
Six people who may tell more were arrested by the Vanuatu police, Chinese media claimed on July 23, 2019. In May 2020, Chinese police busts several people who may have connections with the scam. But there is no data regarding the moving funds, which may mean not all of the scammers are in the hands of police.
At the time of writing, the EOS price is not moving down and shows a 2% gain per trading day.