July 24, 2024

Analysts: 37 725 BTC of PlusToken pyramid hovered in mixing services

Analytical company OXT Research has published a second report on the activities of the largest ChinesePlusToken cryptocurrency pyramid.

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According to OXT Research, scammers firstthey launder coins in mixers, then group on average 100 coins at each address and send them to exchanges with the KYC procedure, mainly to OKEx and Huobi. This debunkes the theory of laundering through OTC sites.

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“About 80% of the funds included in the mixers were distributed among exchanges. Up to 33,872 BTC remain in the mixing services, and 3,853 BTC are distributed right now. ”, - the report says.

Mixing services simultaneously accepted the bitcoins of another pyramid - WoToken, which speaks in favor of a potential connection between fraudulent projects.

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OXT Research noted that they do not analyzetrading operations on exchanges. Researchers do not know the exact number of bitcoins already sold on exchanges. Presumably, the organizers of the pyramid have already sold $ 1.3 billion in seven months. At the same time, they preferred to sell only in a strong market and hold coins in case of a weak one.

We will remind you that earlier ForkLog spoke briefly about the scheme of laundering Bitcoin of the PlusToken pyramid and the effect of massive sales on the price of the first cryptocurrency.