After almost a year since cryptocurrency investors were sucked dry by PlusToken scam, Ethereum on-chain data suggests that the Ponzi Scheme still holds 0.71% of Ether (ETH) in supply.
According to Etherscan, a block explorer, search, API, and analytics platform for Ethereum, one of Plus Token’s Ether wallet addresses (0x997114ca0830e9bee7443368fa27f4af2d4e55a6) dubbed “PlusToken Ponzi 2 address” currently holds 789,535 ETH ($158 million). This makes it a top 8 address with the largest amount of ETH in balance.
The total amount of ETH in the address accounts for more than 19 transactions inflow from several associated accounts and has been on the move in the last five months.
Etherscan revealed that about 789,524.6 ETH ($157,952,291.48) were sent from wallet address 0xf4a2eff88a408ff4c4550148151c33c93442619e at around 12:51:44 UTC on December 19, 2019 to the Plus Token Ponzi 2 address.
The most recent transaction involving the PlusToken Ponzi 2 ETH wallet address was carried out around 08:28:42 UTC on May 14, 2020. In the transaction, a paltry sum of 0.000123 ETH ($0.02) was moved from an unnamed wallet address to the Plus Token scam address.
Even though the value of the recent transaction may seem insignificant, it could be a test for a bigger move that may be on the way.
PlusToken Ponzi scheme
PlusToken was a South Korean cryptocurrency Ponzi scheme disguised as a genuine investment program. The platform was able to onboard millions of unsuspecting investors through several conferences and meetups to promote the token.
Trouble started in June last year when users complained they were unable to withdraw their funds, with some taking to popular Chinese social media platform, Weibo, to air their grievances.
Initially, the firm blamed “high miner fees” for the withdrawal delays, but later, the firm left a message that read “sorry we have run,” thus dashing investors’ hope of retrieving their funds.
Over $2 to $3 Billion in cryptocurrencies such as Bitcoin, ETH, and EOS were reportedly stolen in the heist. Since the incident, large sums have been moved from different accounts involved in the hack, causing price fluctuations in the cryptocurrency market.
In February, Coinfomania reported that Plus Token scammers moved 11,999 BTC (appr. $113,812,434.84) from an unknown wallet address to another.