The Next Web: Bitcoin’s failing price could be caused by $2B Chinese Ponzi scheme dumping its crypto
Bitcoin‘s price could be held down by scammers seeking to liquidate at least $2 billion worth of cryptocurrency belonging to one of the largest ever Ponzi schemes, PlusToken. That’s according to blockchain firm Chainalysis, which says it’s tracked roughly 45,000 BTC ($302 million) and 800,000 ETH ($102 million) sent from PlusToken’s operational wallets to individual addresses owned by the scammers themselves. The firm noted — almost ominously — that 20,000 BTC (worth over $134 million) is still waiting to be dumped. “Given this analysis and the effects we’ve observed so far, liquidations of large amounts of illicitly obtained funds are likely to drive… This story continues at The Next Web Or just read more coverage about: Bitcoin
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