Did China Secretly Sell Seized Bitcoin from PlusToken Ponzi Scheme?
- China seized 194,000 Bitcoin from the 2019 PlusToken scam.
- Evidence suggests the BTC was sold via exchanges like Huobi.
- Historical data highlights the market impacts of PlusToken-era events.
China’s handling of Bitcoin seized during the 2019 PlusToken Ponzi scheme remains under scrutiny, as new evidence suggests the cryptocurrency was sold. Blockchain analysis reveals that 194,000 Bitcoin tokens confiscated by Chinese authorities were likely laundered through mixers and liquidated via exchanges like Huobi.
The PlusToken scam, one of the largest Ponzi schemes in cryptocurrency history, defrauded investors of over $2 billion. While Chinese authorities reported transferring the seized Bitcoin to the “national treasury,” no further disclosures were made about its fate.
Evidence Points to Liquidation
Blockchain data shows significant Bitcoin outflows from PlusToken-associated wallets to exchanges in 2019. These movements coincide with the seizure of the 194,000 Bitcoin by Chinese authorities.
Ki Young Ju, CEO of CryptoQuant, argued the assets were likely sold, noting, “There’s no point in using mixers and multiple exchanges if they didn’t sell it.�…
The post Did China Secretly Sell Seized Bitcoin from PlusToken Ponzi Scheme? appeared first on Coin Edition.
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Did China Secretly Sell Seized Bitcoin from PlusToken Ponzi Scheme?
- China seized 194,000 Bitcoin from the 2019 PlusToken scam.
- Evidence suggests the BTC was sold via exchanges like Huobi.
- Historical data highlights the market impacts of PlusToken-era events.
China’s handling of Bitcoin seized during the 2019 PlusToken Ponzi scheme remains under scrutiny, as new evidence suggests the cryptocurrency was sold. Blockchain analysis reveals that 194,000 Bitcoin tokens confiscated by Chinese authorities were likely laundered through mixers and liquidated via exchanges like Huobi.
The PlusToken scam, one of the largest Ponzi schemes in cryptocurrency history, defrauded investors of over $2 billion. While Chinese authorities reported transferring the seized Bitcoin to the “national treasury,” no further disclosures were made about its fate.
Evidence Points to Liquidation
Blockchain data shows significant Bitcoin outflows from PlusToken-associated wallets to exchanges in 2019. These movements coincide with the seizure of the 194,000 Bitcoin by Chinese authorities.
Ki Young Ju, CEO of CryptoQuant, argued the assets were likely sold, noting, “There’s no point in using mixers and multiple exchanges if they didn’t sell it.�…
The post Did China Secretly Sell Seized Bitcoin from PlusToken Ponzi Scheme? appeared first on Coin Edition.
Read More
Governor Hobbs Vetoes Arizona’s Bitcoin Reserve Bill For The State