Behind the latest Bitcoin price drop is PlusToken fraudulent project

The cryptocurrency market experienced a significant sell-off on Monday evening, and according to experts from...Chainalysis, PlusToken scammers played a significant role in this.

According to Chainalysis report, PlusToken scammers control 20,000 BTC and 790,000 ETH

Last night the cryptocurrency market was subjected tosignificant changes. The sudden sell-off caused Bitcoin to fall 4% in just seven minutes. The decline broke the major support level at $7,000, while the price dropped to $6,800. Ethereum, the second largest cryptocurrency in terms of market capitalization, lost 7% of its value, reaching $130.

In our opinion, the criminals behind the schemePlusToken ponzis can influence the price of Bitcoin when they liquidate their stolen funds through over-the-counter brokers, – notes Chainalysis on its official blog.

The report also indicated that PlusToken scammers have already sold about $ 185 million in BTC on exchanges.

Cryptoafer Billion

PlusToken, is one of the largest Ponzi schemes in the cryptocurrency space. For all the time the project managed to steal from investors about $ 2.9 billion.

PlusToken – this is a “cryptocurrency wallet”,which has all the attributes of a typical Ponzi scheme: the project promises users high income when using the platform to store their funds. Rewards are said to be generated through “currency profits, mining revenues and referral payments.”

Let us remind you that at the beginning of this year, law enforcement agencies managed to detain six people involved in the scheme, however, there are those who are still at large.