PlusToken Shifts $460 Million in ETH Within 12 Hours Amidst Ongoing Scam Investigation
CryptoNewsTerminal Staff07 Aug, 2024
PlusToken Shifts $460 Million in ETH Within 12 Hours Amidst Ongoing Scam Investigation
PlusToken, a notorious multi-level marketing scam, has once again come under the spotlight as it moved a staggering 464.7 million in ETH over the past 12 hours. This revelation came to light through Arkham Intelligence, a leading blockchain analytics firm. This movement of funds follows an earlier report by Cryptonewsterminal, which indicated that approximately 789,533 ETH (equivalent to $2 billion at the time) had recently been transferred from various PlusToken wallets that had remained dormant for the past three years. These recent transactions have attracted significant attention from the cryptocurrency community and law enforcement agencies alike. The PlusToken scam, which operated as a Ponzi scheme, defrauded investors of billions of dollars, with the majority of the stolen funds believed to have been laundered through cryptocurrency exchanges. As investigations into the PlusToken scam continue, the movement of these substantial ETH holdings raises fresh concerns regarding the ongoing efforts to recover stolen funds and hold the perpetrators accountable.
