Scammers involved in the recent PlusToken cryptocurrency scam have suddenly moved 480 million XRP it allegedly stole, respected Chinese security firm PeckShield has said.
A report by Coinness, citing PeckShield, highlighted that of the huge PlusToken ‘Runaway Assets’, around 484,775,570 XRP (approx. $130 million) was moved from the address starting with rNfRpq to another address starting with r3C9BX.
PlusToken pushers, according to series of information has more than $240 million it got from the cryptocurrency scam.
A different report alleged PlusToken scammers of carting away with close to $3 billion, an amount said to be around 1 percent of the whole Bitcoin supply.
The fund from the suspected crypto scam have been moved through around four Bitcoin (BTC) transactions. The stolen assets are also in EOS and ETH. However, they have not been completely moved.
Although, some of the leaders in the Ponzi scheme have been arrested by Chinese authorities on June 27, 2019, what is surprising is how the XRP holdings, which are proceeds of the scam, were being moved since those involved are under incarceration. With this latest move, It appears that others conspirators in the crypto scam are at large.
The Ponzi Scheme attracted nothing less than 200,000 bitcoin, which is around one percent of the whole Bitcoin supply, simply put, the whole of Winklevoss twins’ bitcoin holdings.
As well, the scheme carted away with 26 million EOS and 789,000 Ether within short time. In all, around 3 million people were defrauded in the process.
These week, Elementus, a blockchain analytic firm said a large percentage of the proceeds during its functioning days landed on Huobi. The firm said around 50% of all PlusToken withdrawals were sent Huobi.
The scheme could be likened to the long-dead BitConnect scheme which bankrupted many investors.
Scam is making the cryptocurrency space the cynosure of all eyes. Investors in cryptocurrency have reported series of exit scams in different projects that first posed to be viable and latter turn out to be a big scam.
From India to U.S., there are series of complaints on crypto scam. On Twitter, Ethereum bots rob unsuspecting users of their hard earn crypto wealth. The same is true for Telegram fake users who stylishly scam users.