On Monday, the blockchain surveillance company Chainalysis published an excerpt from the firm’s upcoming crime report that will publish in January. According to the Chainalysis research, the Ponzi scheme called Plustoken not only defrauded investors out of $3 billion but the scam “may also be driving down the price of bitcoin.”

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Are Ponzi Schemes Behind the BTC Price Suppression?

Over the last few weeks, a lot of speculators have assumed that the Plustoken and Cloudtoken scams are the primary reason BTC prices have been suppressed. Plustoken is a Ponzi scheme that started in South Korea where essentially the creators promised huge returns if people kept their funds in the Plustoken platform. The Plustoken admins said that the rewards stemmed from “exchange profit, mining income, and referral benefits.”

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Source: https://news.bitcoin.com/plustoken-cash-outs-could-be-behind-btc-price-drop-says-report/