New analysis suggests $1.3B of ETH from Plus Token Ponzi could be headed to exchanges; Upbit monopoly sparks bank run fears. Asia Express.
Around $16 million in Ether from the Plus Token scam started moving to exchanges this week, suggesting intent to sell, according to on-chain analyst ErgoBTC.
The Plus Token Ponzi scheme, which defrauded investors between 2018 and 2019, led to the reported seizure of $4.2 billion in crypto by Chinese authorities, including 833,083 ETH.
ErgoBTCs latest analyst states that around a third of the seized Ether was sold at now-defunct crypto exchange Bidesk in 2021. The remainder, approximately 542,000 Ether in thousands of wallets, started moving in August and was consolidated into 294 addresses.
