Independent analysts have refuted a recent social media post alleging that dormant wallets connected to the multibillion-dollar crypto scam Token Plus were transferring nearly $2 billion in Ether. The blockchain analytics service Lookonchain initially reported that TokenPlus wallets were moving 789,533 ETH, valued at $1.8 billion, but a follow-up investigation by Chinese crypto data account EmberCN revealed that most of the ETH had already been sold in 2021. EmberCN identified that only around 25,757 ETH, worth $63.1 million, had been transferred in the last 24 hours. Despite claims from other sources like Arkham Intelligence about significant ETH movements, closer scrutiny showed minimal activity from primary Token Plus wallets. Plus Token, a major alleged crypto Ponzi scheme, defrauded investors of billions. Chinese authorities arrested key figures in the project, with one leader facing criminal charges in China. The impact of crypto bots, including rug pulls, on the market is also discussed in the article. Read more AI-generated news on: https://app.chaingpt.org/news

#ETH