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Chinese scam PlusToken is moving $117m in Bitcoin: research firm

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The PlusToken scam has deposited around 13,000 BTC to a mixer in the past 24 hours, reports blockchain research firm Ergo. Mixer deposits in Bitcoin do not necessarily mean a sell-off in the immediate future, but it raises the probability of it.

Researchers at Ergo said:
“~13K [BTC] IN NEW PLUSTOKEN MIXER DEPOSITS IN LAST 24 HRS. ALMOST ALL PREVIOUS MIXER DEPOSIT CHANGE HAS ENTERED MIXING, CONFIRMING MY THEORY. DISTRIBUTIONS STILL ON/OFF. MUCH SLOWER THAN SEPTEMBER AND NOVEMBER. NEW REPORT AND FULL SIT REP IMMINENT.”

Whether the sell-off of Bitcoin by the scam throughout the past several months is priced into the market remains in question.

@TradeCryptoNow
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