The infamous PlusToken Ponzi scam that resulted in investors losing over $3 billion in cryptocurrencies like Bitcoin [BTC] and Ethereum [ETC] has reared its ugly head again. After a short hiatus, the scam artists have re-surfaced and moved $117 million in Bitcoin, within their addresses.
Dovey Wan of Primitive Ventures called out the hefty 11,999.47 BTC transfer that was first alerted by Whale Alert. Wan tweeted,
Plustoken's coins are on the move again
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) February 11, 2020
As Wan noted, @ErgoBTC had already marked these addresses associated with PlusToken; the sender’s address was noted to be 1H2zrVQxU3ymunr9CunjoActooLW2ryQK7 while the recipient’s address was 1KRhwg5PT4XsEHZxn19bMszbozeHyjANgSyM9iyjsZU1sKsR6uMCJ2qqRnh91ZX19ntM. This transaction did not stop here, however, as the sum of BTC got transferred to a third wallet with the address – 19bMszbozeHyjANgSyM9iyjsZU1sKsR6uM.
Wan went on to tweet,
“Looks like a consolidation of UTXOs, need to closely track the downstream movement
The fund is latest on address 19bMszbozeHyjANgSyM9iyjsZU1sKsR6uM”
The addresses that acted as recipients had registered only a handful of transactions, while the main sender address reported 18 BTC transactions. A look at the transaction history highlighted that the wallet address 1H2zrVQxU3ymunr9CunjoActooLW2ryQK7 had sent multiple large transactions since August 2019.
Researcher Chiachih Wu also noted the movement of 12k BTC and informed the community about the holding addresses.
“New #PLUSTOKEN parking addresses:
19bMszbozeHyjANgSyM9iyjsZU1sKsR6uM (11,999 #BTC)
1LT4ae84S8tCsZtrLCcz3Z38DGn1LnZ9op (424 #BTC)”
The security audit firm, Peckshield, had previously provided a detailed chart expanding on the movement of funds involved in the PlusToken scam. The chart in question had highlighted that the hackers had split the funds into small bits and circulated them within exchanges.
In the month of December, the scamsters had managed to move Ethereum worth $105 million from one of its wallets to another. There had been speculations about PlusToken scammers liquidating BTC, something that had caused the price to fall in December. However, the crypto-space is yet to figure out how to stop these dumpings.