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Plus token seems to be on the news again bringing uncertainty in the markets as usual. The Plus Token Ponzi-scheme that is reported to have extracted more than 3 Billion USD all in form of cryptocurrencies collapsed last summer, and they even announced their exit scam adding a note in a transaction "Sorry, we have run".
In total the amounts of cryptocurrencies this Ponzi amassed were:
6,4 million Ethereum
26 million EOS
~500 million XRP
The collapsed Ponzi is trying to cash out as much as possible of their cryptocurrency holdings lately and this can be a cause for concern as they create selling pressure that both last two times created a negative outlook for the market.
In summer 2019 they began selling the Bitcoins they had collected from their illegal activities and ended up selling around 160,000 BTC after obfuscating transactions with the use of various mixing services. According to reports from on-chain analysis researchers, these Bitcoins ended in exchanges like Huobi and OKEx.
So we keep reading reports of Plus Token moving their altcoins stacks the last few days. First it was XRP.
Meanwhile, it seems that the remaining 22K BTC that Plus Token still holds are on the move as well, as a researcher that goes with the Twitter name @ErgoBTC posted that the Bitcoins are moving into mixers again.
Plus Token certainly creates major waves when moving the stolen coins and usually they try to sell them through OTC desks of the aforementioned exchanges. It is a fact that the selling pressure they create has a negative effect on prices and the whole market outlook can turn negative again if all these coins are dumped.