Scammers Move Hundreds of Bitcoin to Exchanges; Is a Dump Inbound?

Over the past couple of days, investors have grown fearful regarding the possibility of a massive Chinese Ponzi scam dumping the significant amount of Bitcoin (BTC) that they hold in wallets onto the markets, which may have contributed to the recent downwards pressure experienced by the entire crypto markets.

Now, new data suggests that a small portion of the scammer’s Bitcoin has already been moved to exchanges, which may signal that a massive influx of selling pressure is imminent.

Chinese Ponzi Scammers Wield Significant Power Over the Markets With Massive Bitcoin Holdings

Earlier this week, investors were thrown into a slight panic after Dovey Wan, a founding partner at PrimitiveCrypto, elucidated the fact that one of the largest Chinese Ponzi schemes – which has resulted in multiple arrests – has led to a handful of scammers holding a total of 70,000 Bitcoin and 800,000 Ethereum in their wallets.

“JUST IN as per sir @loomdart‘s request, this thread is abt the on-going…