Over $240 million in proceeds from the alleged crypto scheme PlusToken have reportedly moved through four Bitcoin (BTC) transactions.
Whale Alert, a Twitter account, that is definitely worth a follow, dedicated to reporting large cryptocurrency transactions, posted on the 17th of August that four transactions adding up to 22,923 BTC were likely the transactions of PlusToken. The four transactions moved 6,000 BTC, 5,000 BTC, 7,000 BTC and 4,923 BTC. The account moderator says that whilst the BTC is likely the proceeds of PlusToken, it’s obviously unconfirmed.
As Cointelegraph reported in an analysis of the biggest crypto heists, PlusToken could be the largest crypto exit scam, with an estimated loss of around $2.9 billion. PlusToken is said to have fraudulently claimed that it could deliver wallet holders a return on investment between 8% and 16% per month, after depositing a minimum $500 in cryptocurrency.
Blockchain forensics company Ciphertrace claims that the platform involves several Chinese nationals, the Chinese police and the company’s co-founders, identified as a South Korean man going by the name “Kim Jung Un” and a Russian known alias only as “Leo.”
Recently a United States District Court issued an emergency freeze to preserve $8 million in assets associated with several entities accused of a fraudulent and unregistered initial coin offering.
It’s not clear what the intentions of the Law enforcement are, and where they go from here. As stated before, its mere speculation that the BTC that was moved in the past few days is the work of PlusToken.
