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What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Skeptics Concerned Plustoken Scammers Plan to Dump $187M Worth of Ethereum

Skeptics Concerned Plustoken Scammers Plan to Dump $187M Worth of Ethereum

Crypto market skeptics and speculators are concerned about 789,000 ETH that started moving four days ago last Wednesday. The transaction was recorded by Whale Alert, and the $187 million worth of ether stems from the Plustoken scammers.

On Wednesday, June 24, 2020, at approximately 9:46 a.m. (ET) the Plustoken scammers who have yet to be arrested, moved 789,534 ETH worth $187,847,550 USD at today’s exchange rates.

Cryptocurrency traders are concerned that this stash of ETH will be dumped on numerous digital currency spot markets. Additionally, the Plustoken scammers moved $67 million worth of EOS tokens two days before the 789,000 ETH transaction.

A number of crypto traders and organizations like Chainalysis and Cyphertrace have reported on the Plustoken scammers’ transactions.

Speculators have assumed that Plustoken coins that were dumped on spot markets caused the price of BTC to slide at the end of 2019. Plustoken scammers have been accused of fueling the March 12, 2020 dump often referred to as ‘Black Thursday.’

On March 9, 2020, crypto market observers witnessed 13,000 BTC sent to bitcoin mixers and crypto speculators assume the scammers are selling. Chainalysis said after March 12, that the organization didn’t believe the sell-off stemmed from Plustoken coins sold.

“In this case, we don’t believe Plustoken liquidations are responsible for bitcoin’s price drop. While Bitcoin did move from Plustoken addresses over the weekend, very little has gone to exchanges,” Chainalysis wrote.

The recent 789,000 ETH transaction may have been shuffled or obfuscated through a number of hops. The $187 million was split into 50 different addresses on the Ethereum network.

Findings stemming from Cyphertrace and Chainalysis have noted that the Plustoken scammers still own large amounts of ETH, BTC, EOS, and a few other types of digital assets. To this day, the scammers who are still at large, hold large swathes of these coins and no one is sure how they will be sold, but many suspect over-the-counter (OTC) operations.

The ETH address where the $187 million in ether was stored, still has $139.70 worth of ETH in the wallet today. 192 days ago, the wallet started with 10 ETH deposited, but 789,524.6 ETH was deposited immediately after.

What do you think about the Plustoken ether on the move? Let us know what you think about this subject in the comments section below.

The post Skeptics Concerned Plustoken Scammers Plan to Dump $187M Worth of Ethereum appeared first on Bitcoin News.

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