According to researchers from the analyst firm TokenAnalyst, the current fall in the price of BTC was not caused by the massive sale of cryptocurrency by operators of the PlusToken fraudulent scheme.
Bloomberg, co-founder of London-based analytics company TokenAnalyst Sid Shekhar, said that the massive sale of $ 3 billion in PlusToken by China’s cryptocurrency pyramid scheme by BTC could not be the reason for the recent price drop.
The company did not find any evidence that the PlusToken scheme operators moved a significant amount of BTC to any known exchange addresses. Shekhar said:
“It seems that none of these addresses belongs to the exchange. […] We will monitor developments in order to track whether operators of the scheme move hundreds of millions to exchanges. ”
The findings are challenged by recent statements by Dovey Wan, the founder of Primitive Ventures investment blockchain company, which expressed
assumptions that the PlusToken scheme operators sell a large number of bitcoins, which caused a depreciation of the largest cryptocurrency.
However, TokenAnalyst analyzed PlusToken transactions on the Bitcoin blockchain and found that thousands of BTCs were sent to online mixing services to hide the origin of the coins.
Shekhar added that a large number of BTCs have hit the mixers in recent months. This is confirmed by the research group Clain.io, which recently claimed that a significant portion of those stolen with the Binance 7074 BTC were washed through the Chipmixer mixing service. According to Clain researchers, no less than 4836 BTC have been laundered since June 12.
For the first time, the PlusToken cryptocurrency wallet turned out to be a financial pyramid, it became known
at the beginning of July. At the moment, this is the largest collapse of the cryptocurrency financial pyramid in China.