Plustoken is one of the largest Ponzi schemes not only in the crypto world. It resembles the structure and expansion of the community with a bit more familiar Bitconnect fraud. The company boasts 300,000 active users who were supposed to invest a total of tens of thousands of BTCs.
Plustoken is currently one of the largest Ponzi schemes in the world, investing tens of thousands of people. They even say on the web that up to 300,000 people have registered for this project. The amount of Bitcoin invested is estimated to be several tens of thousands based on available wallet information. The authors and employees of this Ponzi scheme regularly send these Bitcoins to the crypto exchanges every month, where they are gradually sold.
A crypto wallets analyst @ErgoBTC said on his Twiter account that up to 13,000 BTCs had been moved in bulk in the last 24 hours.
If PlusToken started selling these Bitcoins, the price drop could be extreme. In the order of several tens of percent. This could mean a downturn to long-term lows. Suspicions about the forthcoming sale of large amounts of BTCs appeared last month, where up to 12,000 BTCs were transferred between PlusToken wallets. The move took place between several wallets and stock exchange accounts.
It is currently not known exactly how much BTC actually owns. The record of holding 12,000 Bitcoins can only be indicative, as we do not know the list of all purses owned by the Ponzi scheme. Nor do we know how many coins they have already sold and how much they still own on their wallets. Most coins are said to be on the Huobi Cryptocurrency Exchange.
So how much BTC can PlusToken own?
PlusToken promised users a high return on capital and 100% security for cryptocurrencies, including Bitcoin, on their wallets. Later, everything turned in the opposite direction and the project became a mega scam. According to some sources, they have collected capital worth around $ 2 billion over the EOS, ETH, and BTC crypto currencies, about to 200,000 Bitcoins. Citizens from China and South Korea invested most in this project.
If you are deciding to invest your money in an unknown project, check carefully all the information about the founders. Do not believe fancy guaranteed profits such as 100% appreciation per month. If someone promises you such a thing, it’s obvious that it’s a scam.