PlusToken Ponzi-Associated Wallets Move 789,533 Ethereum (ETH)
According to the latest details shared by on-chain analyst Lookonchain, hundreds of wallets associated with PlusToken Ponzi have begun moving 789,533 Ethereum after over 3.3 years of dormancy.
Key points:
- Wallets associated with PlusToken Ponzi are on the move.
- Hundreds of wallets have come alive after 3.3 years of dormancy.
- The wallets are moving 789,533 ETH.
- PlusToken Ponzi distributed the ETH to thousands of smaller wallets in 2020.
Lookonchain stated that these funds have been stagnant since April 2021, up until the recent movement. They also identified that these tokens came from the wallet “Plus Token Ponzi 2.”
Also read: Ronin Network Exploited for 4,000 Ethereum and 2M USDC; Hackers Respond
What is the PlusToken Ponzi?
Chinese authorities investigated the PlusToken Ponzi scheme in China. During the crackdown, billions of dollars worth of cryptocurrencies were seized.
According to the details released during the investigation, the authorities confiscated 194,775 BTC, 833,083 ETH, 27.6 million EOS, 74,167 DASH, 6 billion DOGE, 487 million XRP, 79,581 BCH, 1.4 million LTC, and 213,724 USDT.
Also read: SEC Pushes Back on Coinbase’s Document Request
The value of the captured assets during that time was around $4 billion. However, as the prices appreciated, the seized stash is now worth around $13.5 billion.
The movement of these funds by the authorities has not yet affected market conditions. The nature and exact reason for the movement also remain unknown at the moment.
