The coins seized from the Plus Token scam, which victimised about 3 million people all over the world, especially in Asia, started to move. According to the information provided by the on-chain tracking platform Lookonchain, approximately 790 thousand ETH is transferred to various wallets.

The coins seized by the Chinese state in 2020 were released from the ‘Plus Token Ponzi 2’ wallet in the same year and distributed to thousands of wallets. These coins have not been moving in any way since April 2021. Wallets that started to move around 11 a.m. started to transfer the ETH they held.

Crypto security firm Peckshield also confirmed the transfers. Peckshield also shared that one wallet received 2880 ETH.

One of the world’s biggest scams…

The China-based organisation Plus Token, which emerged in 2018, was known for giving high interest to participants. The Ponzi scheme attracted millions in a short time and turned into a giant community with its monthly interest of 10% to 30% and the rewards of the reference system. Those at the head of the system stole cryptocurrencies in 2019 and disappeared. Although the Chinese police have caught many people related to the issue, the main organisers are still missing…

Plus Token had even developed a mobile application for easy transactions.

Chinese police in 2020; 194 thousand BTC, 833 thousand ETH, 487 million XRP, 79,500 Bitcoin Cash, 1.4 million LTC, 27.6 million EOS, 74 thousand DASH and 6 billion DOGE were seized.

Will new sales pressure come?

Crypto investors fear that the Chinese state will create a new sales pressure. In the summer, Mt. Gox, the German government and the US government’s sales had created a huge selling pressure on the cryptocurrency markets.