Altcoin News: PlusToken Scam Surpasses BitConnect and OneCoin
August 26, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
According to a report by Elementus experts, the PlusToken cryptocurrency pyramid scheme attracted about $2 billion on air from 800,000 participants, surpassing its “competitors”.
The authors of the study note that PlusToken also accepted investments in BTC, XRP and EOS. Based on this, we can conclude that the real amount of funds raised can easily overshadow other well-known cryptocurrency scams, such as BitConnect, OneCoin and MMM.
As can be seen in the histogram above, on June 27, approximately from block 8,040,000, investors stopped sending money to PlusToken. On the same day, it became known about the detention of several organizers of this cryptocurrency pyramid scheme.
In total, PlusToken managed to collect about 10 million ETH. 820,000 of them have not moved since July. The attackers distributed 9 million ETH among 248,000 addresses, however, a significant amount of transactions fell on only a few thousand of them.
At the moment, it is impossible to say which part of these transfers belongs to investors and which to the organizers of the pyramid. However, most of ETH eventually settled on cryptocurrency exchanges. Only Huobi sent 45% of all monitored cryptocurrency.
“In our view, this unusually high concentration of payouts in no way implies any wrongdoing on the part of Huobi. Rather, it raises the question of why so many PlusToken users would choose to store their winnings in that particular exchange,” the authors of the study note.
Author: Marko Vidrih
