ETH faces sell-off fears after $2b in Ethereum transfer. PlusToken ponzi scheme linked wallets have moved after 3 years
While crypto market is recovering from recent market crash, ETH is facing sell-off fears after PlusToken Ponzi scheme wallets moved after 3 years.Over the last week, the crypto market has witnessed dark days. Three days ago, the crypto market was rocked by macroeconomic headwinds after Japan’s market crash and fears of U.S. economic recession.ETH has hit the headlines with analysts reporting that Ethereum wallets tied to PlusToken Ponzi that operated from 2018 to 2019 in China have moved.
However, another analyst took to X to clarify the issue, adding that most of the ETH were already seized, leaving $63 Million worth of ETH currently moving.“roughly tracked down about 12 addresses that have collected Plus Token-related ETH in the last 30 hours, with a total of 25,757 ETH . Part of these ETH were not transferred to Bidesk in 2021; part were withdrawn from Bidesk but not transferred to Huobi.
This news has resulted in a decline in trading volume by 4.56% to $23.6 billion and a market cap decline of 3.59% to $291.1 billion.As of this writing, ETH was trading at $2,421 after a 3. 35% decline on daily charts. Equally, the altcoin’s market cap has declined by 3.79% to $290.8 billion in the last 24 hours, with trading volume declining by 4.05% within the same period.
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