RATE Group | Chinese scam PlusToken is moving $117m in Bitcoin: research firm
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Chinese scam PlusToken is moving $117m in Bitcoin: research firm

07 Mar Chinese scam PlusToken is moving $117m in Bitcoin: research firm

Posted at 06:09h in Bitcoin News by

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The PlusToken scam has deposited around 13,000 BTC to a mixer in the past 24 hours, reports blockchain research firm Ergo. Mixer deposits in Bitcoin do not necessarily mean a sell-off in the immediate future, but it raises the probability of it.

Researchers at Ergo said:

“~13k [BTC] in new PlusToken mixer deposits in last 24 hrs. Almost all previous mixer deposit change has entered mixing, confirming my theory. Distributions still on/off. Much slower than September and November. New report and full sit rep imminent.”

Whether the sell-off of Bitcoin by the scam throughout the past several months is priced into the market remains in question.

bitcoin
13,000 in Bitcoin moved to a mixer address (source: Ergo Twitter)

Is the Bitcoin sell-off priced in?

According to Ergo, the operators of the scam have been selling on and off since August, for more than six months.

The rate of selling has declined as of recent, which coincides with strengthened momentum in the crypto market.

One difficult aspect of…

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