According to media reports, four transactions totaling more than $240 million or 22,923 BTC have been carried out through a PlusToken crypto wallet.
A famous Twitter account Whale Alert, which publishes information on biggest crypto transactions, posted about huge transactions presumably processed via PlusToken. According to the source, four unconfirmed transactions amounted to 4,923 BTC, 5,000 BTC, 6,000 BTC, and 7,000 BTC took place on Saturday (August 17).
Thus, PlusToken can be considered one of the largest cryptocurrency scams whose profit is estimated at $2.9 billion. PlusToken’s campaign promised to generate from 8% to 16% income per month from an initial investment of at least $500, but in the end, people lost their money.
According to Ciphertrace blockchain forensics, the platform’s owners are Kim Jung Un (fake name of a South Korean citizen) and a Russian guy with a nickname “Leo”. The list of this fraudulent scheme’s participants also includes the Chinese police representatives and several Chinese nationals.
The US authorities are working on ways to protect cryptocurrency users from being scammed by unscrupulous operators providing blockchain services.
As mentioned earlier, Bitcoin will become a means of payment in New Zealand, where new cryptocurrency legislation enters into force this autumn.
Read more: Bitcoin Price Prospects for 2019