History’s third largest Ponzi, Plus Token, took in nearly 10 million Ethereum—worth $1.9 billion—from over 800,000 victims, according to analysis conducted by Elementus. These coins have the potential to flood the ETH market should the perpetrators cash out.
Background on the Plus Token Wallet ponzi
Plus Token Wallet, a mobile app promoted across China, South Korea, and South East Asia promising monthly returns upward of 10 percent, collapsed late June—leaving its mark as the world’s third largest Ponzi scam.
Yet, only recently have researchers uncovered the magnitude of the scheme. A few days ago, evidence showed that over $2.1 billion Bitcoin was sitting in Plus Token wallets. These coins may find their way back on to the market, shocking prices with a glut of supply.
Today, an analytics firm released details behind an additional $1.9 billion Ethereum that were taken in by the scam. Read More at CryptoSlate...