During the last two weeks as cryptocurrency prices slid below long term foundational support, speculators assumed Plustoken scammers may be behind the dump. Blockchain intelligence firm Chainalysis published a report which claimed Plustoken coin sales might be dragging BTC prices down. Moreover, on December 19, Plustoken scammers moved 789,525 ETH ($101 million) from one address to another.
Also read: Plustoken Cash-Outs Could Be Behind BTC Price Drop, Says Report
$101 Million of Ethereum Moves
On December 16, the blockchain surveillance firm Chainalysis published an excerpt from its January 2020 report indicating the Plustoken Ponzi scheme might be behind the declining crypto prices this year. The Plustoken project was a wallet created by a group of South Korean nationals who told people the wallet would reward users with 6-18% in monthly profits. By the time the scam ended with arrests, close to $3 billion dollars in a variety of digital assets had been defrauded from Plustoken users. Chainalysis called the Plustoken scam one of…