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Chainalysis Report On PlusToken ‘Scammers’ Possibly Behind Abrupt Cryptocurrency Market Drop
Summary: Bitcoin, Ether and most of the cryptocurrency industry saw a big and sudden downturn on Monday, some traders believe the fear around the alleged PlusToken Ponzi scheme is responsible for the plunge. The slide began around 1:30 p.m. EST, as in a mere seven minutes Bitcoin fell 4% from $7,085 to around $6,800 according to ...
Bitcoin, Ether and most of the cryptocurrency industry saw a big and sudden downturn on Monday, some traders believe the fear around the alleged PlusToken Ponzi scheme is responsible for the plunge.
The slide began around 1:30 p.m. EST, as in a mere seven minutes Bitcoin fell 4% from $7,085 to around $6,800 according to Bitpush data. Ether in that time saw a 7% drop as well, going from $140 to $130. Neither had seen such lows since Nov. 25, when the crypto markets suffered a temporary selloff.
While there wasn’t much news that could explain the sudden drop, traders believe that a report from Chainalysis published four and a half hours prior to the drop, claimed that 20,000 BTC (now worth $137 million) and 790,000 ETH (now worth $102 million) remain under the control of PlusToken “scammers.” Chainalysis also claimed that $185 million in stolen bitcoin have already been liquidated by individuals related to PlusToken.
By Ramsey Baker
Tags: Bitcoin,Ethereum,PlusToke,Ponzi Scheme,Price Drop
Link: Chainalysis Report On PlusToken ‘Scammers’ Possibly Behind Abrupt Cryptocurrency Market Drop [Copy]
