• Blog
  • News
  • PlusToken to Shake The Crypto Market Once Again
News

PlusToken to Shake The Crypto Market Once Again

PlusToken Scam May Dip World 2nd Cryptocurrency Price

The cryptocurrency community will remember the PlusToken project for many years. Recently, it was revealed that the mentioned project turned out to be a scam. The overall amount of stolen funds is near three billion in Bitcoin and ETH. Some community members thought that the tensions around this scheme are over, but the latest research by experts raised another series of worries and concerns. 

According to the presented data, a single transaction of $105,1 million in ETH was made. The PlusToken wallet transferred this amount of ETH to an unknown person.

This situation confirms the fact that several people still have access to the scam wallet. The cryptocurrency market participants, namely traders and holders of ETH, instantly reacted to that movement. In addition, the famous trader from Twitter also pointed out to follow this news.

The Massive Scam Effect on Major Cryptocurrencies

While many traders and investors are already following the movement of Bitcoin’s price, ETH holders joined them endorsing similar emotions. The cryptocurrency experts agreed that crypto scammers might have used OTC off-ramps to sell the number one digital currency in the world. Such actions impacted the market by dropping the BTC price significantly.

According to experts from Chainalysis, the trades performed by OTC brokers increased the volatility of Bitcoin’s price. One exchange in the center of this weird movement is Huobi. However, the official representatives have not yet confirmed it while the investigation is launched.