⚡ Chinese journalist Colin Wu shared the consequences of PlusToken, one of the largest financial pyramids in Bitcoin’s history.
⚡ According to Wu, a person with a basic education from Changsha, Hunan Province, managed the PlusToken scheme. He managed to attract 310,000 Bitcoins, 9.17 million Ethereums, and over 51 million EOS using a simple Ponzi scheme model. Chinese police seized 190,000 BTC, 830,000 ETH, and 27.24 million EOS during the operation. Part of the seized cryptocurrency was sold through Beijing Zhifan Technology, a company comparable to the American Chainalysis.
⚡ However, analysts tracking the PlusToken addresses believe that most of the Bitcoins were sold through Huobi, but around 15,000 BTC may still be unsold. Additionally, they suggest that the Ethereum addresses have not moved.
⚡ Wu concludes that there may be a discrepancy between the addresses tracked by the police and those monitored by foreign observers.