According to information shared by Lookonchain, an on-chain data analysis platform, hundreds of wallets related to the PlusToken scam are transferring large amounts of Ethereum (ETH), which may be as high as 789,533, worth approximately $2 billion.
Lookonchain said it noticed that hundreds of addresses that had been idle for 3.3 years were transferring ETH. Through on-chain tracking, it was found that these funds could be traced back to the wallet address labeled "Plus Token Ponzi 2".
Plus Token is a multinational cryptocurrency scam platform that was created during the 2018 bear market. The scam used "brick arbitrage" as a gimmick to attract about 7.5 billion U.S. dollars (there are also reports that the funds involved are about 2 to 3 billion U.S. dollars), with more than 2 million victims. The members behind Plus Token were all arrested and sentenced by the Chinese authorities in 2020. A Chinese court said that year that the seized cryptocurrencies would be "handled in accordance with the law" and "turned over to the state treasury," but did not elaborate on how they would be disposed of.
According to "The Block", Chinese police seized 833,083 ETH (approximately US$2.11 billion at current value) in the process of dismantling this Ponzi scheme. Other seized assets also included 194,775 Bitcoins (valued at US$11.2 billion). , 487 million XRP (worth $252 million), 79,581 BCH (worth $25.8 million), 1.4 million LTC (worth $82.3 million), 27.6 million EOS (worth $12.7 million), 74,167 DASH (worth $1.7 million) USD), 6 billion DOGE (USD 609 million) and 213,724 USDT stablecoins. The cryptocurrencies were worth $4.2 billion the year they were seized, or more than $14 billion in todayâs prices.
Lookonchain added that the âPlus Token Ponzi 2â wallet spread 789,533 ETH across thousands of wallets in 2020 and has not moved since April 2021. However, these wallets saw transactions transferring ETH today.
Hundreds of wallets that have been dormant for 3.3 years are moving large amounts of $ETH, possibly 789,533 $ETH($2B)!We noticed that hundreds of dormant addresses were transferring ETH. Through on-chain tracking, we found that these funds came from the wallet "Plus Token⊠pic.twitter.com/QGKJknJEns
â Lookonchain (@lookonchain) August 7, 2024
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