Infamous Chinese scam Ponzi scheme Plustoken continues moving its funds. Automated services spotted another multi-million transaction
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- 26,316,228 EOS transferred by greatest crypto scam
- Plustoken (PLUS) funds remain influential selling pressure factor
The most notorious cryptocurrency scam so far, China-based Plustoken (PLUS), moved $82.3 mln today in a single transaction on EOS blockchain. Fraudsters transferred all of their EOS riches.
26,316,228 EOS transferred by greatest crypto scam
Today, on Nov. 22, Whale Alert—a service that tracks large-scale transactions across major blockchains—reported the activity of one address related to a Plustoken scam. Its owners moved more than $82 mln in U.S. Dollar equivalent to another EOS address on block 153,745,183.
The address of the recipient is not associated with an exchange or mixer, so it does not look like scammers are trying to sell their loot.
This transfer coincided with a mediocre 4.4 percent drop in the EOS price to $3.00. However, this decrease was erased promptly by EOS bulls.
The estimated holdings of the Plustoken (PLUS) mastermind include 200,000 Bitcoins (BTC), 789,000 Ethers and 26.3 mln EOS. In actual prices, these coins are worth $4.16 bln. Also, some assets of PLUS masterminds were laundered trough Litecoins (LTC) and Dogecoins (DOGE).
Plustoken (PLUS) funds remain influential selling pressure factor
Previously, the cryptocurrency community was concerned about the potential effects of a hypothetical sell-off of Plustoken funds. For instance, regarding the Bitcoin (BTC) supply, scammers operate almost 1.11 percent of all released coins. Should they start to sell these massive bags, the price of the king coin might be heavily affected.
Meanwhile, modern digital assets tracking instruments allow exchanges to monitor Plustoken (PLUS) prices closely and prevent them from entering recognized trading platforms. Thus, illicit over-the-counter (OTC) deals seems to be the last resort for Ponzi leaders.
PlusToken Chinese Ponzi Scheme Founders Who Grabbed $3 Bln from Investors Arrested in China
As covered by CryptoComes previously, the Plustoken (PLUS) scam was active in 2018-2019 and guaranteed its investors 6-19 percent in monthly passive income. Its organizers grabbed the money of almost 800,000 victims in China, Japan, Russia and others.
In 2019, its key managers were arrested in China, but law enforcement bodies failed to seize the money stolen after Plustoken’s “rug pull.”
Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.
Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)