The US and German governments are dumping confiscated BTC in the market;
Where did China's 190,000 Bitcoins go?
China has confiscated a large number of digital assets. The PlusToken team, led by a middle school educated man from Changsha, raised 310,000 Bitcoins;
Bitcoin 5.71% Bitcoin, 9.17 million Ethereum (ETH) and more than 51 million EOS, adopted a simple Ponzi scheme and pyramid scheme model. Chinese police confiscated 190,000 BTC, 830,000 ETH and 27.24 million EOS.
Some of the confiscated cryptocurrencies were sold through Beijing Zhifan Technology Co., Ltd., similar to the US Chainalysis company. But the whereabouts of the remaining assets remain unclear.
Wu Jihan and another source, Jiang Zhuoer, claimed that most of the confiscated BTC were sold from late 2019 to mid-2020, when the price of BTC fluctuated between $7,000 and $12,000.
But the fate of the remaining assets remains unknown. Although most of the Bitcoin has been sold through the Huobi platform, there are still about 15,000 BTC to be sold. In addition, they estimate that the Ethereum address remains unchanged.
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