PlusToken Ponzi Scheme Allegedly Moved More Than $60 Million Worth Of EOS
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A wallet that has held more than 26 million tokens of EOS has moved to an unknown wallet according to data from the EOS blockchain. This amount of EOS tokens would be worth around $67 million looking at today’s markets.
Looking into July 2019, the project called PlusToken was accused of being a pyramid scheme that stole more than $3 billion from its user base.
The founders of the alleged Ponzi scheme already raised concerns in regards to the weight of the dumps on the market as seen in the price action of many of the big cryptocurrencies in the space such as BTC and ETH. These sort of transactions typically can result in negative price actions.
According to a researcher for Chainalysis, the previous scheme has been moving funds through an over-the-counter broker. As a result, this caused the price drops within the market but mainly affected the top two cryptocurrencies, BTC and ETH.
The scammers for the project have exported more than 20,000 bitcoins to more than 8500 over the counter traders as they have attempted to filter the illicit funds they gained from investors based in Asia. In the end, we have a lot of unanswered questions still yet to be told. Nobody knows the overall number of scammers behind the scheme and their names and fate is a mystery as well.