About 7,000 acreage tokens seized from the PlusToken cryptocurrency scheme were handed over to exchanges earlier this week.
Various cryptocurrencies worth more than $14 billion have been seized from PlusToken, which defrauded more than 2.6 million people in 2018 and 2019.
An analyst at #OXT ErgoBTC said that the recent sale of ether is likely a precursor to the full $1.3 billion #cryptocurrency sale.
About 7,000 ether (worth $16.7 million) from the multi-billion dollar PlusToken cryptocurrency scheme has been withdrawn from the exchange, which could mean a $1.3 billion sale of all the ether withdrawn from the scheme, OXT Research analyst ErgoBTC said on Wednesday. said an ErgoBTC analyst on Wednesday.
This comes nearly two months after large amounts of ether were spotted in wallets associated with the cryptocurrency scheme after being inactive since 2021.
The current #ETH distribution follows the same pattern of fraud attempts as BTC in 2019, with the potential for a full $1.3 billion ETH sale in the future, said OXT analyst ErgoBTC.
PlusToken is a Chinese cryptocurrency pyramid scheme that defrauded more than 2.6 million people in 2018 and 2019. Local police seized #bitcoin , ether, and seven other cryptocurrencies worth more than $14 billion.
According to court documents seen by ErgoBTC analysts, the seized cryptocurrency was handed over to Beijing Zhifan Technology Co, which sold the assets for cash and received compensation.
the cryptocurrency index below.
the OXT analysts believe most of the $1.3 billion worth of bitcoin was sold between 2019 and 2020. Meanwhile, about 542,000 ETH ($1.29 billion) remained untouched on thousands of mixed addresses until August this year, when assets were reallocated to 294 new addresses.
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