Token

Ponzi

Movement

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/hundreds-of-dormant-crypto-wallets-transfer-billions-in-eth/" data-wpel-link="internal">Hundreds of Dormant Crypto Wallets Transfer Billions in ETH</a><br></p>
<p><strong>The cryptocurrency</strong> world is abuzz as hundreds of long-dormant wallets become active again. Wallets inactive for about 3.3 years have started transferring 789,533 ETH (worth approximately 2 billion dollars). This significant activity has created a major impact on the <a href="https://en.coin-turk.com/bitcoin-and-altcoins-face-short-term-bear-pressure/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a>.</p> 
<h2 id="plus-token-ponzi-2-and-distributed-eth">“Plus Token Ponzi 2” and Distributed ETH</h2> 
<p>The source of these wallets is quite intriguing. The wallet named “<strong>Plus Token Ponzi 2</strong>” distributed ETH to thousands of wallets in 2020 and had shown no activity since April 2021. However, in the last few hours, massive amounts of ETH transfers have started from these wallets. This movement is causing great curiosity and concern in the cryptocurrency world.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-377749 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-3.png" alt="" width="497" height="774"></p> 
<p>The story behind these transfers is even more interesting. Chinese police seized a large amount of cryptocurrency in their operation against the Plus Token Ponzi scheme. The seized cryptocurrencies were as follows:</p> 
<ul> 
 <li>194,775 BTC (worth approximately 11.2 billion dollars),</li> 
 <li>833,083 ETH (worth approximately 2.11 billion dollars),</li> 
 <li>487 million XRP (worth approximately 252 million dollars),</li> 
 <li>79,581 BCH (worth approximately 25.8 million dollars),</li> 
 <li>1.4 million LTC (worth approximately 82.3 million dollars),</li> 
 <li>27.6 million EOS (worth approximately 12.7 million dollars),</li> 
 <li>74,167 DASH (worth approximately 1.7 million dollars),</li> 
 <li>6 billion DOGE (worth approximately 609 million dollars),</li> 
 <li>213,724 USDT.</li> 
</ul> 
<h2 id="reasons-behind-the-movement">Reasons Behind the Movement</h2> 
<p>This sudden activity raises many questions. Why now? What is the purpose of these transfers? How will releasing such a large amount of ETH affect <strong>prices</strong>? The answers to these questions are not yet clear, but the cryptocurrency community is closely monitoring the situation.</p> 
<p>Thanks to <strong>blockchain</strong> <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener" data-wpel-link="exclude">technology</a>, these large transfers can be tracked in real-time. Each transfer is recorded transparently, making it easy to follow large fund movements. Since the tokens obtained from the Ponzi scheme are in the hands of Chinese police, it is believed that the move was made by China.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/hundreds-of-dormant-crypto-wallets-transfer-billions-in-eth/" data-wpel-link="internal">Hundreds of Dormant Crypto Wallets Transfer Billions in ETH</a></h5>
<p>The post <a href="https://en.coin-turk.com/hundreds-of-dormant-crypto-wallets-transfer-billions-in-eth/" data-wpel-link="internal">Hundreds of Dormant Crypto Wallets Transfer Billions in ETH</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Hundreds of Dormant Crypto Wallets Transfer Billions in ETH

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