#plustoken

[vncryptoenthusiast]

Trung Quốc bị tố cáo đã bắt đầu tiến hành bán ra lượng Ethereum mà họ sở hữu

Chính phủ Trung Quốc bị cho là đã bắt đầu chuyển số lượng Ethereum mà họ tịch thu từ trước đó lên một sàn giao dịch tập trung.

Theo cáo buộc, Trung Quốc đã bắt đầu bán ra số Ethereum (ETH) lớn từ vụ lừa đảo PlusToken, và điều này có thể đã dẫn đến đợt sụt giảm gần đây trên thị trường tiền mã hóa.

Vào đầu tháng 8, các giao dịch ETH liên quan đến vụ PlusToken đã tái xuất hiện lần đầu tiên kể từ năm 2021, khi khoảng 7.000 ETH (trong tổng số 542.000 ETH trị giá 1,3 tỷ USD) được chuyển đến sàn giao dịch, bắt đầu cho quá trình thanh lý tài sản.

PlusToken là một vụ lừa đảo tiền mã hóa quy mô lớn, hoạt động từ 2018 đến 2019 và thu hút một lượng đầu tư khổng lồ.

Sau khi sụp đổ, vụ việc đã tích lũy được 194.000 BTC và 830.000 ETH. Một tài liệu tòa án năm 2020 cho biết số tài sản này đã được giao cho công ty Beijing Zhifan Technology để xử lý và hoàn trả cho các nạn nhân.

Số Bitcoin đã được thanh lý chủ yếu vào năm 2019-2020, nhưng phần lớn Ethereum vẫn chưa được bán ra cho đến giữa năm 2021. Nếu Trung Quốc tiếp tục thanh lý số ETH còn lại, thị trường tiền mã hóa có thể chịu áp lực giảm giá ngắn hạn.

[coineagle]

China’s Potential Sale of $1.3B Ethereum Raises Supply Concerns: What’s Next?

Key Points

Chinese authorities have moved a part of the 542,000 ETH seized in 2018 to exchanges, potentially impacting the market.

Ethereum’s exchange reserves have hit a three-week high, indicating a potential sell-off.

Chinese authorities have recently transferred 7,000 ETH to various exchanges.

These tokens are part of a larger stash of 542,000 ETH that was confiscated in 2018 from a cryptocurrency Ponzi scheme.

Ethereum’s Market Position

At the time of reporting, Ethereum was trading at $2,401, following a nearly 2% price drop within 24 hours.

This price drop aligns with a general bearish sentiment in the wider cryptocurrency market, with the Fear and Greed Index hitting a seven-day low of 39.

This suggests that traders are currently in a state of fear.

Ethereum investors have additional concerns due to the potential market impact of the possible sell-off of 542,000 ETH, worth over $1.3 billion, by Chinese authorities.

Impending Supply Overhang

Onchain researcher ErgoBTC reports that Ethereum could be facing an unexpected supply overhang.

This is due to the recent move of 7,000 ETH to exchanges, which are part of the 542K ETH seized from the PlusToken crypto Ponzi scheme in 2018.

This scheme had amassed over 194K Bitcoin and 830K ETH by the time it was shut down.

Most of the Bitcoin was likely sold between 2019 and 2020, while a third of the ETH was sold in 2021.

The remaining 542,000 ETH was consolidated into multiple addresses in August 2024.

Some of these coins are now being moved, as evidenced by the withdrawal of 15,700 ETH from these addresses on October 9th.

Nearly half of this amount was deposited into the BitGet, Binance, and OKX exchanges.

The researcher suggests that these transfers are following a similar pattern to when the authorities sold Bitcoin in 2020.

This could potentially lead to increased selling pressure on Ethereum in the coming weeks.

Ethereum’s exchange reserves have reached a three-week high due to these deposits, as per data from CryptoQuant.

In the past 24 hours, the total amount of ETH held on exchanges has risen by over 110,000 tokens, reaching its highest level in three weeks.

This indicates that many traders are moving their coins to exchanges with the intention to sell.

The largest increase in reserves occurred on derivative exchanges, which could lead to a surge in Ethereum’s volatility.

Data from IntoTheBlock also shows an increase in large transaction volumes, suggesting a rise in whale activity.

Given that Ethereum’s price is not increasing despite the rise in large transactions, it could imply that these transactions are sell orders rather than buy orders.

According to Coinglass, these high exchange deposits are having a bearish impact on Ethereum.

More than $31 million worth of ETH was liquidated in the last 24 hours, with $27M being long liquidations.

[blockinsider]

Chinese Government’s $1.3B ETH Sale Plummets Ethereum Price Following PlusToken Scam Seizure

Key Points

Ethereum’s price has dropped below $2.4K, with a 1.8% decrease in the past 24 hours.

The Chinese government has started selling the $1.3 billion worth of Ether seized from the PlusToken scam.

Ethereum Price Experiences Decline

Ethereum’s price has recently seen a drop, falling below $2.4K.

This drop represents an approximately 1.8% decrease within the past 24 hours. The price decrease occurred during the mid-European session on Thursday.

Technical Analysis of Ethereum

From a technical perspective, Ethereum’s price has been attempting to rebound from the crucial support range between $2,300 and $2,250 for the past two months.

Furthermore, the Ether price against Bitcoin has already formed a double bottom with a bullish divergence in the Relative Strength Index (RSI). This signals the possible onset of the much-anticipated altseason.

Crypto analyst Ali Martinez suggests that Ether’s price could be forming a potential symmetrical triangular pattern in the daily time frame, which is often followed by a major bullish breakout.

Ether’s price against the US dollar could be forming an inverted head and shoulders (H&S) pattern, coupled with a rising divergence in the daily RSI.

If Ether’s price breaks above the resistance level of around $2,700, a major bull run toward its all-time high will be inevitable. However, a consistent close below the support level of around $2,250 will lead to further altcoin capitulation in the near term.

China Begins Selling Seized Ether

On-chain data analysis from the OTC Research firm indicates that the Chinese government has started selling the remaining 542k Ether, valued over $1.3 billion, that was seized from the PlusToken scam.

In the last 24 hours, the Chinese government transferred 15.7k Ether to an unknown address, with experts speculating sales in hindsight.

Moreover, the Chinese government then sent 7k Ether to addresses associated with crypto exchanges in the past 24 hours.

Despite the selling pressure, the Ethereum market is expected to absorb the impact comfortably, although the short-term outlook remains bearish.

The demand from the US spot Ether ETF issuers has significantly declined recently, further contributing to the bearish outlook.

Ethereum’s Network Growth

The Ethereum network has seen steady growth in recent years, driven by upgrades aimed at making its smart contracts more user-friendly.

For example, Ethereum transitioned from the power-consuming Proof-of-Work (PoW) consensus method to the Proof-of-Stake (PoS) and has since attracted more participants through its staking program.

Current market data shows that more than 34.8 million Ether, accounting for about 28.9 percent of the total circulating supply, has been staked by thousands of validators to secure the network.

As a result, the Ethereum ecosystem has grown to a robust web3 ecosystem with more than $44 billion in total value locked (TVL) and over $84 billion in stablecoins market cap.

[cryptomaster7]

Plustoken Exit Scam – Tales from the Crypt – Chapter Two

[bitcoincables]

US Government Holds Billions in Bitcoin as Prices Surge and Seizures Increase

Summary

Bitcoin holders have reasons to celebrate as prices surge, a spot ETF is on the horizon, and a record number of bitcoins have not been moved for a year. The US government is also benefitting from the price rally, currently holding at least $8.3 billion worth of bitcoin. Over the past few months, authorities have seized 207,189 BTC from Silk Road, its hacker Jimmy Zhong, and the hackers of Bitfinex.

A small portion of the seized bitcoins has been sold, generating $640 million in sales over the past decade. If the US government had chosen to keep the seized bitcoins instead of selling them, it would currently have around 400,000 BTC, nearly double its current holdings. The US government is potentially holding the largest government-held bitcoin stash, possibly tied with China, which seized 195,000 BTC in 2020 from the PlusToken Ponzi scheme.

There is a possibility that the US government may sell more Silk Road bitcoins in the coming months, but there is no update on when the bitcoins seized from the Bitfinex hackers will be sold. In comparison, other countries hold significantly smaller amounts of bitcoin, with El Salvador, Ukraine, Bhutan, Venezuela, and Finland holding a combined total of 4,000 BTC. China's bitcoin holdings are unknown as they were not included in the previous study.

To read the full article, click here.

Bitcoin USGovernment Cryptocurrency SilkRoad

[assetsrepo]

The Impact of Cryptocurrency Pyramid Schemes on the Industry

The rise of digital currencies has led to an increase in cryptocurrency scams, including pyramid schemes. A cryptocurrency scam is a fraudulent investment scheme that lures people with promises of high returns on their investments. Pyramid schemes, which are a common cryptocurrency scam, rely on a constant stream of new investors to fund the payouts of earlier investors. The impact of cryptocurrency pyramid schemes on the industry can be devastating, as they can cause financial losses for investors and erode trust in the industry. In this article, we will explore the impact of these common cryptocurrency scams on the industry and discuss the measures being taken to prevent them.

Types of cryptocurrency scams

Cryptocurrency scams come in various forms, but the most common cryptocurrency scams are Ponzi schemes, pyramid schemes, fake ICOs, social media scams, and phishing scams. A Ponzi scheme is a type of cryptocurrency scam that lures investors by promising high returns but instead pays out earlier investors with the investments of new investors. Pyramid schemes are similar but require a constant stream of new investors to sustain the payouts to earlier investors. Fake ICOs, social media scams and phishing scams use different tactics to defraud investors. They often rely on fake websites or social media accounts to deceive investors into transferring money or providing personal information. Understanding the different types of cryptocurrency scams is crucial to avoid falling victim to these common cryptocurrency scams.

Cryptocurrency scams in the industry

Cryptocurrency scams are rampant in the industry, and investors must be vigilant to avoid falling victim to these common cryptocurrency scams. Some prominent examples of cryptocurrency scams include Bitconnect, OneCoin, and PlusToken. The impact of these scams on investors can be severe, with many losing their life savings or experiencing significant financial losses. In addition, the market can also be negatively affected by these scams as they erode trust in the industry and may lead to increased regulatory scrutiny. Trends in cryptocurrency scams show that they are becoming more sophisticated and difficult to detect, making it more important than ever for investors to be cautious and informed.

Regulations and measures to combat cryptocurrency scams

Regulatory bodies around the world have implemented measures to prevent and combat cryptocurrency scams. Some of these measures include mandatory KYC (know-your-customer) procedures, prohibiting anonymous transactions, and monitoring the activities of cryptocurrency exchanges. However, the effectiveness of these regulations and measures has been mixed, with some scams still being able to operate despite these efforts. Suggestions for improving regulation and prevention include increasing collaboration between regulatory bodies and industry players, enhancing public awareness about the risks of cryptocurrency scams, and implementing stronger penalties for those found to be involved in these common cryptocurrency scams. Overall, it is important to continue developing and implementing measures to combat the growing threat of cryptocurrency scams in the industry.

Conclusion

Cryptocurrency pyramid schemes and other common cryptocurrency scams have had a significant impact on the industry, causing financial losses for investors and eroding trust in the market. While regulatory bodies have taken steps to prevent these scams, more work is needed to effectively combat them. As a final recommendation, investors should also consider utilizing asset repo platforms, which can help them recover lost funds through legal means. It is essential to remain vigilant and informed about the risks of cryptocurrency scams and to take steps to protect oneself from becoming a victim of these fraudulent schemes.

[cryptoonus]

China Is A Silent 'Crypto Whale' And Could Wipe Out The Entire Crypto Market

Despite the widespread ban on crypto assets, China had inadvertently become a “crypto whale” because of its vast holdings, which could wipe out the entire crypto market in moments. The Chinese government now has more bitcoin holdings than MicroStrategy or Elon Musk’s Tesla, Inc. after confiscating a large amount of Bitcoin and Ethereum from the PlusToken Scam in 2019, according to crypto journalist Paulo A. José report on November 13th. China Holds 194k Bitcoins, 833k Ethereum Ki Young Ju, the CEO and founder of CryptoQuant, the blockchain data analytics platform, published this list of the top 13 public companies with the most Bitcoin holdings on November 2nd. Chinese authorities seized 194k BTC, 833k ETH, and others from the PlusToken scam in 2019. They forfeited these $6 billion-worth assets to the national treasury. FWIW, MicroStrategy has 130k BTC. FUN FACT: Government of China🇨🇳 is a crypto whale.Chinese authorities seized 194k BTC, 833k ETH, and others from the PlusToken scam in 2019. They forfeited these $6 billion-worth assets to the national treasury.FWIW, MicroStrategy has 130k $BTC. pic.twitter.com/Ilqp7EnenL— Ki Young Ju (@ki_young_ju) November 2, 2022 China will be one of the largest shareholders with nearly 200,000 Bitcoins, owning nearly 1% of all Bitcoins already in circulation. In the past, China has not been supportive of cryptocurrency markets. In 2021, The Government even banned Bitcoin mining here.  China Is Not Only The 'Crypto Whale' Bulgaria is also a cryptocurrency whale. The Bulgarian government broke ties with a crypto-crime ring and confiscated 200,000 Bitcoins in 2017. Related Reading | Crypto Exchanges Share Proof Of Reserve To Combat Mistrust Since law enforcement agencies began dismantling an organized crime network in May 2017, the country was sitting on a pot of gold. These bitcoins would be enough to cover a quarter of the national debt. These bitcoins would be enough to cover a quarter of the national debt.  It is still being determined whether the authorities only found Bitcoin or they had access to this stash of money, which is now worth billions. If it is the latter, then Bulgaria may be a bigger crypto whale than China. Read the full article

[kasoutsukamania-blog]

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[nagarebosi39-blog]

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[coineagle]

Ethereum under Siege: PlusToken Fraud Re-emerges Moving $2B Worth ETH

Key Points

Ethereum [ETH] is under pressure due to external factors and the movement of PlusToken Ponzi scheme wallets.

Reports of a potential $2 billion worth of ETH transfer has increased market fears and selling pressure concerns.

The cryptocurrency market has been going through a tough phase recently, and Ethereum [ETH] has been significantly affected by external factors. One of the key factors contributing to Ethereum’s troubles is the recent movement of wallets linked to the PlusToken Ponzi scheme.

PlusToken’s $2b ETH Transfer

Reports have emerged that Ethereum wallets associated with the PlusToken Ponzi scheme, which operated from 2018 to 2019 in China, have been active. This scheme led to Chinese authorities seizing $4 billion in crypto, and now, after more than three years, the wallets have reportedly moved.

In 2020, Chinese authorities seized 833,083 ETH worth over $2 billion at current market rates. These reports first appeared from Lookonchain, which also mentioned that hundreds of wallets linked to the PlusToken Ponzi scheme were in motion.

However, it was clarified that most of the ETH were already seized, and only about $63 Million worth of ETH is currently moving. EmberCN clarified this through some accounts, stating that roughly 12 addresses related to PlusToken had collected ETH in the last 30 hours.

On the other hand, Arkham Intelligence disputed this analysis, claiming that more than $450 million in ETH moved in the past 24 hours. These conflicting reports have left ETH investors, traders, and analysts worried about potential selling pressure.

ETH Market Impact

Ethereum has faced extreme fluctuations following the market crash on 5th July, hitting a low of $2116. The recent news of a potential $2 billion worth of ETH transfer has increased market fears and selling pressure concerns.

This news has led to a decrease in trading volume by 4.56% to $23.6 billion and a market cap decline of 3.59% to $291.1 billion. At the time of writing, ETH was trading at $2,421 after a 3. 35% decline on daily charts. The altcoin’s market cap has also declined by 3.79% to $290.8 billion in the last 24 hours.

According to analysis, the decline is not an isolated sell-off after the PlusToken movement but wider price corrections. The relative strength index was also at 26, an oversold zone suggesting that ETH has experienced massive selling pressure.

Furthermore, analysis of Cryptoquant shows exchange outflow has declined over the past seven days, indicating traders are keeping their assets liquid for potential selling. This suggests a lack of confidence in ETH’s long-term prospects. Additionally, data from Coinglass shows ETH’s open interest has declined over the past seven days.

Despite the movement of the PlusToken Ponzi scheme held ETH, Ethereum has already been experiencing a decline. Therefore, the current price action is not solely due to the PlusToken Ponzi scheme transfers.

[cryptoxicate]

Privacy Coins Will Skyrocket on 2021 - China Seize $4.2 Billion in Crypto Currencies https://bit.ly/39mR0QL **Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no expert and this is just my personal opinion on certain project, news or events mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, all data sources are post at the bottom of the article**Privacy Coins Will Skyrocket on 2021 - CHina Seize $4.2 Billion in Crypto Currencies Be prepare to enter a potential rabbit... https://cryptoxicate.com

[omanizen]

Điểm tin Crypto: Thị trường DeFi hồi phục trong 24h qua, Binance lập quỹ 100 triệu đô la cho dự án DeFi trên Binance chain DeFi Tokens phục hồi với 19% trong 24 giờ giờ qua Sau một tuần đẫm máu cho các dự án tài chính phi tập trung (DeFi), thị trường chứng kiến ​​nhiều mã token DeFi giảm mạnh tới 50%, tuy nhiên lĩnh vực DeFi đã phục hồi 19% trong một ngày, giá Ether cũng tăng 11% trong 24 giờ qua .

[cryptocrew]

Diversifying Investment Portfolio with Alternative Strategies

In the investment world, there is no such thing as 100% safe and risk free investment. Remember, all investments whether traditional or alternatives have risks involved. However, it is best if investors don’t put all their eggs in one basket and diversify their portfolio by using different investment strategies.

In the world of volatile markets and changing economies, they may see that investments are risky endeavors. Why then do companies and people continue to invest, buy, and sell stocks?

The truth is that investments provide financial security in the present and even the future. Investments are often treated as another source of income and are highly encouraged for a more secure future. These days, having just one job is no longer enough, and investments allow people to achieve financial growth and stability.

What people should include in their financial knowledge and plans is a portfolio. This portfolio groups together financial assets like stocks, currencies, mutual funds, and the like. The goal is to expand the economic vision by diversifying the portfolio.

Gaining more financial knowledge cannot be emphasized often enough. According to a study by Margarida Abreu and Victor Mendes on financial literacy and portfolio diversification, “investors’ educational levels and financial knowledge have a positive impact on investor diversification.”

Knowing is half the battle, and it is best to be well-equipped with extensive knowledge of all the options available.

Common investments and alternative investments

When the word investment is mentioned, what comes into mind are stocks and bonds. These two are types of investments that have remained popular among the masses. Stocks are ownership shares. An investor owns stock shares in a company that has been publicly traded. Bonds, on the other hand, are loaned money to the government or a company. When the bond matures, the principal is paid back with interest.

These are two of the most popular investment options and are followed by mutual funds and exchange-traded funds. Mutual funds pool together different investors’ money and invest it in stocks. This is one way to own shares in blue-chip companies that are internationally known and have a high return rate of investment. Exchange-traded funds are similar to mutual funds but are bought and sold on the market.

Other collective investments are certificates of deposit (done with banks), retirement plans (an example is the 401(k) plan), and options (another way of buying stocks).

Since the recent global and economic crashes, investors have begun to understand the need to diversify their portfolios with alternative investments. Alternative investments are those that veer away from the stock market, cash equivalents, and bonds.

Examples of alternative investments are physical real estate, crowdfunding, peer-to-peer lending, online business, commodities, fine art, and digital assets. These may seem like smaller ventures, but these continue to thrive even during market crashes.

Even before a global pandemic was declared, markets began to crash with Apple making its announcement first that it will not reach its projected sales in the first quarter of the year. By the time the world was put on a standstill with lockdowns and quarantines, many companies were out of business or closed stores worldwide.

Since large companies failed, there were those businesses, investments, and trading that thrived. As the world has become digitally reliant, it became even more so during the global crisis. Some companies were kept afloat with their sales and services on an online platform. Serious investors wasted no time in securing their digital assets, and others took to arbitrage trading to gain more from market discrepancies.

Digital asset as an alternative investment

A digital asset is a new option for an alternative investment, and business in it has proven to be very lucrative.

According to a study published in Digital Science in 2018, a significant number of investors “are willing to allocate their wealth in such specific assets in 2018.” This then has led to the increase of the demand for digital assets, which, in turn, affected its prices significantly. “Investors are considering such an instrument as an alternative investment.”

Definite advantages to investing in digital assets are its form itself. A Digital asset is considered as a virtual currency that cannot be counterfeited. It cannot also be double-spent and is not limited by any government or law.

The report made by Prance Gold has stated that “The cryptocurrency market is currently at US$ 268 billion, with an all-time high of US$ 744 billion in 2018.”

“With the increasing number of digital assets and exchanges, an increase in trading and investment opportunities are arising for traders and investors. There are different types of strategies that can be taken advantage of, and choosing the right one will help increase the profitability of the digital asset investment,” says the same report.

Alternative investments will help diversify your portfolio, and digital assets are the future.

Are alternative investments good for you?

In the world of investment, a “100% safe investment” does not exist. All investments, whether traditional or alternatives have risks involved. However, alternative investments are usually considered a sound addition in diversifying portfolios. Always do extensive research and arm yourself with as much knowledge about the alternatives market before investing money.

Register

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[thecryptoreport]

Unexpected Factor That Suppressed Bitcoin Bulls in 2019 Is Now Gone

Unexpected Factor That Suppressed Bitcoin Bulls in 2019 Is Now Gone

If you’ve been involved in the Bitcoin market over the past year, you know of PlusToken.

PlusToken was a Ponzi scheme with a focus on the Asian cryptocurrency space that was active in 2019. In offering depositors of Bitcoin, Ethereum, EOS and other cryptocurrencies high levels of interest, the operators of the scam managed to garner billions worth of assets. Per some reports, the scam held…

[cryptoknowmics]

PlusToken turned out to be the biggest Ponzi scheme to date in the crypto space!!

Chinese Ministry of Public Security has just arrested around 100 core members of the firm, from which 27 members are criminal suspects and the other are the 82 key members of the Ponzi scheme.

To read what Dovey Wan has to say about this biggest crypto scam click here

[cryptobitnews]

27 Key Execs at PlusToken Scam Are Reportedly Arrested The story of PlusToken, one of the largest scams in the cryptocurrency industry, takes another twist as dozens of major suspects have been arrested.