Ethereum from PlusToken Ponzi scheme set to be sold
A significant development in the cryptocurrency market involves the potential sale of $1.3 billion in Ethereum, seized from the PlusToken Ponzi scheme dismantled in China in 2019.
As much as $1.3 billion in Ethereum, seized from the notorious PlusToken Ponzi scheme, is expected to be sold on exchanges soon. On-chain analysts have confirmed that a portion of the 542,000 ETH remaining from the scheme has already been transferred to platforms like Binance and OKX, suggesting plans to sell off the assets.
The PlusToken scheme, which was dismantled in China in 2019, attracted millions of participants and saw vast amounts of cryptocurrency seized. Analysts warn that any significant liquidation of this Ethereum could increase selling pressure, possibly affecting its market value, which is currently around $2,448.
Experts from blockchain analytics firms are monitoring the situation closely. They suggest that the sale of such a large amount of Ethereum could have a ripple effect on the crypto market, leading to potential price drops and further impacting investor sentiment.
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