{"id":18689,"date":"2025-05-24T05:57:25","date_gmt":"2025-05-24T09:57:25","guid":{"rendered":"https:\/\/demo2.dedicatedhost247.com\/crypto\/plus-token-ponzi-linked-wallet-moves-2b-eth-after-3-3-years-of-dormancy\/"},"modified":"2025-05-24T05:57:25","modified_gmt":"2025-05-24T09:57:25","slug":"plus-token-ponzi-linked-wallet-moves-2b-eth-after-3-3-years-of-dormancy","status":"publish","type":"post","link":"https:\/\/demo2.dedicatedhost247.com\/crypto\/plus-token-ponzi-linked-wallet-moves-2b-eth-after-3-3-years-of-dormancy\/","title":{"rendered":"Plus Token Ponzi-linked wallet moves $2B ETH after 3.3 years of dormancy"},"content":{"rendered":"


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Update (Aug. 8 at 1:48 am UTC): Lookonchain deleted the X post that is the subject of this article after analysts argued the X post was inaccurate as most of the funds had been sold in 2021. A new article covering that latest development can be found here.\u00a0<\/a>Hundreds of cryptocurrency wallets that have remained inactive for over three years have suddenly started shifting large amounts of Ether (ETH<\/a>).According to onchain analyst Lookonchain, up to 789,533 ETH\u00a0was linked to the Plus Token Ponzi scheme and has not been moved since April 2021.Onchain tracking revealed the tokens were associated with the \u201cPlus Token Ponzi 2\u201d wallet, which dispersed the ETH to thousands of smaller wallets in 2020.Source: Lookonchain<\/a>Related: Judge labels 2 obscure altcoins as commodities in $120M Ponzi case<\/a>Chinese authority involvementDuring the crackdown, Chinese authorities seized around $4.2 billion in multiple crypto assets, including the Plus Token scam.The assets included 194,775 Bitcoin (BTC<\/a>), 833,083 ETH, 497 million XRP (XRP<\/a>), 6 billion Dogecoin (DOGE<\/a>) and other assets such as Bitcoin Cash (BCH<\/a>), Litecoin (LTC<\/a>) and USDT (USDT<\/a>).Although the combination of seized tokens was worth around $4.2 billion in late 2020, the total funds are now worth around $13.5 billion as current asset prices are much higher.Related: FBI busts $43M crypto and Las Vegas hospitality Ponzi scheme<\/a>Implications for the crypto marketThe reactivation of these wallets and the potential for a sell-off of the seized funds by the Chinese authorities could trigger panic in the market, but this has yet to be seen.At the time of writing, ETH\u2019s price was around $2,474, up around 1% on the day, and so far, the ETH outflows from the wallets began<\/a> at 10:17 am UTC on Aug. 7.CoinMarketCap chart depicting ETH price over a 1-day period and showing no significant fall in price.\u00a0Related: New York jury convicts two promoters of IcomTech crypto \u2018Ponzi\u2019<\/a>What defines a Ponzi?On July 4, an Illinois district judge sided with the United States Commodity Futures Trading Commission (CFTC) in labeling two altcoins as commodities in a crypto Ponzi scheme case.The Ponzi scheme defrauded its victims by promising \u201csteady returns\u201d of 15%<\/a> annually from investments in \u201cdigital asset commodities.\u201d According to the CFTC, the digital currencies involved in the case fell \u201cinto the same general class at Bitcoin, on which there is regulated futures trading.\u201dMagazine: How crypto bots are ruining crypto \u2014 including auto memecoin rug pulls<\/a><\/div>\n


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Update (Aug. 8 at 1:48 am UTC): Lookonchain deleted the X post that is the subject of this article after analysts argued the X post was inaccurate as most of the funds had been sold in 2021. A new article covering that latest development can be found here.\u00a0Hundreds of cryptocurrency wallets that have remained inactive for over three years have suddenly started shifting large amounts of Ether (ETH).According to onchain analyst Lookonchain, up to 789,533 ETH\u00a0was linked to the Plus Token Ponzi scheme and has not been moved since April…<\/p>\n","protected":false},"author":1,"featured_media":18690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40],"tags":[7916,62,841,7915,81,31,1030],"_links":{"self":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/posts\/18689"}],"collection":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/comments?post=18689"}],"version-history":[{"count":0,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/posts\/18689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/media\/18690"}],"wp:attachment":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/media?parent=18689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/categories?post=18689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/tags?post=18689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}