Researchers: the fall in the price of bitcoin was not caused by the sale of the $ 3 billion BTC Ponzi scheme
The recent Bitcoin price drop (BTC) has not been caused by Bitcoin sales of a USD 3 billion Chinese Ponzi scheme, PlusToken, according to researchers at the cryptanalysis firm TokenAnalyst.
Cryptanalysis company: PlusToken cannot be the cause
As Bloomberg reports on August 15, co-founder of London-based cryptocurrency analysis firm TokenAnalyst, Sid Shekhar, said the sale of Bitcoins by PlusToken operators may not be the cause of the recent fall of the prices.
In particular, the company found no evidence that PlusToken has moved significant amounts of Bitcoin to any known exchange address. Shekhar said:
“It does not seem that any of these addresses are owned by an exchange. […] So that was enlightening. We will be attentive to this to see if the hundreds of millions really move to exchanges at some point.”
The findings challenge recent claims by Dovey Wan, a founding partner of blockchain-based investment company Primitive Ventures, who suspects that PlusToken has been selling large amounts of Bitcoin.
However, TokenAnalyst analyzed PlusToken’s transactions in the Bitcoin blockchain and discovered that thousands of Bitcoins were sent to online mixing services to obfuscate the origins of the currencies.
Shekhar added that much of the scammers’ money was leaked into mixed-type services about a month ago.
As Cointelegraph reported in July, Vanuatu, a country in the Pacific Islands, has extradited six Chinese citizens arrested in the course of an investigation by PlusToken to the mainland.
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