Any scam related to cryptocurrencies can have major consequences further down the line. Defrauding investors is only the beginning, after all.
In the case of PlusToken, there are genuine concerns regarding a potential market dump.
More PlusToken Funds on the Move
While Chainalysis is monitoring the Bitcoin transfers, the Whale Alert bot is flagging the Ethereum side of things.
In a recent message, it showed how over $105 million worth of Ether is transferred to an unknown wallet.
This does not mean that the scammers will dump this amount on exchanges.
However, given the PlusToken team’s recent course of action, such an outcome is not unlikely.
The community is also keeping a close eye on what is going on.
This incredibly successful Ponzi Scheme defrauded investors for billions of dollars.
If even 50% of that amount is to be dumped on exchanges, the consequences will be very dire.
All of the cryptocurrency markets have only just shown some signs of recovery.
This week has proven to be brutal for Bitcoin and altcoins once again.
Some sources claim PlusToken is responsible for this sudden Bitcoin dump.
Confirming those suspicions is always difficult, albeit some circumstantial evidence has surfaced.
Rest assured there will be more of these “Alerts” regarding PlusToken funds in the near future.