The crypto market saw the movement of 7,000 Ethereum tokens from PlusToken’s seized $1.3B stash to exchanges, signaling potential liquidation after years of inactivity.

Notably, in early August 2024, the Ethereum assets seized from the infamous PlusToken scheme resurfaced on-chain for the first time in over two years. The first significant movement occurred with a transfer of 15.7K ETH from previously dormant addresses associated with the scheme. 

These transfers included efforts to obfuscate the transactions, mirroring tactics used during the 2020 and 2021 movements of the scheme’s assets. The reactivation of these funds has raised concerns of further distribution, given the scale of the Ethereum token still held in these addresses.

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