The alleged Chinese cryptocurrency Ponzi scheme PlusToken has moved its entire Ethereum stash of nearly 790,000 ETH, at press time worth roughly $188 million, for the first time since December 2019.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 789,534 #ETH (187,847,558 USD) transferred from PlusToken to unknown wallet
— Whale Alert (@whale_alert) June 24, 2020
According to Etherscan data, those behind PlusToken are now seemingly looking to split the funds into hundreds of different wallets, presumably to throw off blockchain sleuths tracking the funds. The address the 789,000 ETH ended up on now has dozens of unconfirmed transactions of little over 100 ETH each. Some, however, have close to 9,000 ETH being sent.
The transactions come days after PlusToken was seen moving 26.3 million EOS (worth $67 million), and around $50 million worth of XRP tokens in a series of transactions. The moved EOS is still parked in the address it was sent to, but the XRP is reportedly being moved to cryptocurrency exchanges. According to data shared by Thomas Silkjaer, founder of xrplorer, activity went up this week.
— Thomas Silkjær (@Silkjaer) June 21, 2020
PlusToken, it’s worth noting, is believed to be a cryptocurrency Ponzi scheme that attracted over $3 billion worth of investments from its victims. It attracted investors with promises of a high-yield investment program. In June 2019 its founders shut down the operation, taking the funds with them and leaving users with the message “sorry we have run.”
Those behind PlusToken are believed to have added downward pressure to the price of bitcoin last year, and various investors now fear they may see the price of XRP, ETH, and EOS drop after they cash out their funds.
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