“We tracked a total of 180,000 BTC, 6,400,000 ETH.... spikes in on-chain flow to OTC brokers correlate with drops in Bitcoin’s price..... PlusToken one of the largest Ponzi schemes ever. https://t.co/rx9NU9p3hl
I’ll be honest BTC is still in the womb but due date is approaching. I’d be happy to see more crashes. I got my 0.28 goal and now a part of the 1%, next goal is 1 BTC. If I can get that for pennies?? Oh baby!
I'm pretty sure it will go the other way. As those with just a bit sell, so that they can get something important, when the exchange rate goes way up.
Corporations can hodl better than us little folks.
It's pretty wild how people were willing to part with 180,000 BTC for this thing. Seems even crazier how the scammers are willing to crash the market to get out. I guess in this scenario they see less profit and the rest of us get more cheap bitcoin, so maybe it's for the best.
PlusToken presented itself as a cryptocurrency wallet that would reward users with high rates of return if they purchased the wallet’s associated PLUS cryptocurrency tokens with Bitcoin or Ethereum. The scammers claimed those returns would be generated by “exchange profit, mining income, and referral benefits.”
Bought at $3k after this happened last year, bought again at $6k recently, figured December is going to be the dump-month again so I held off buying, currently waiting for a further drop. All my sympathies with your temporary drop in value, but just HODL. I've a theory that the BTC-price is sort of inverse with the stock market for some reason...
> So far, roughly 25,000 of it has been cashed out. The other 20,000 is currently spread out across more than 8,700 cryptocurrency addresses, which speaks to the high level of effort the scammers put into obfuscating the movement of funds. The scammers have transferred the Bitcoin more than 24,000 times, using more than 71,000 different addresses — and that’s not even counting cash outs or transfers to off-ramps such as exchanges.
Sure sounds like mixing.
OK, I get how that would work but how do they know which wallet to check for the total consolidated amount, I suppose they just scanned the blockchain for any wallets with a similar amount and tracked it from there?
Seems like a bit of a sketchy way to trace coin, but I guess if a certain amount went in (like 180,123.42009 BTC) and the new wallet gained that exact amount then it's easy to follow. This is potentially a flaw in coin mixing systems that I hadn't though about before - I guess if you were to send the coin to several wallets after, then it would be impossible to track.
> I suppose they just scanned the blockchain for any wallets with a similar amount and tracked it from there?
This is correct in my experience. If you know 10 BTC have gone into a mixer and you get 10 outputs of 1 BTC, you can see if it becomes 5 addresses of 2 BTC, then if those get moved to 2 addresses of 5 BTC. Since the amounts add up to 10 and move in a fashion that indicates the coins are controlled by related actors, you can operate on the assumption that the pre- and post-mixed coins are related.
The article doesnt have enough information to tell what really happened, or if their analysis is even accurate.
If the final destination for the ponzi funds was accidentally linked directly to one of the original theft-linked wallets, they would not have to follow the trail of the mixers.
Its also possible because of the large amounts that chanalsis is making a blind guess based on the raw amounts alone. 180K is a fairly large amount to be moving around.
The solution for this project in voluntaryism, freedom and sovereignty is to dictatorialy shut down a company.
Came for the decentralisation stayed for the get rich quick mentality? I tought it worked the other way around..
People modded me down, but I am convinced they fully intend to abandon ETH in favour of ETH2.
ETH doesn't work. It can't scale. There is no credibility to their second layer and POS efforts. It's been the same song and dance for years.
All these things and more will come to Bitcoin. There will be only one.
He's making a list, he's checking it twice.
He has no fucks to give if you're naughty or nice.
Santa Whale is buying this dip.
He pumps while you are sleeping.
He dumps while you're awake.
So load your bags while price is low and stop this fucking snake.