Chainalysis employees believe that the criminals behind the PlusToken scheme continue to sell huge the number of bitcoins, thereby provoking a fall in the price of the asset.
After a five-month investigation, Chainalysis Inc., a New York-based company, concluded that PlusToken-related scammers allegedly have more than $ 2 billion in cryptocurrency.
The PlusToken pyramid raised more than $ 3 billion. Chainalysis researchers tracked a total of 45,000 BTC, 6,400,000 ETH, 111,000 USDT and 53 OMG (OmiseGo).
While six people involved infraud, were arrested in June, the stolen funds continued to move through wallets and cash out through independent OTC brokers, working mainly on the Huobi platform. For analysts, this is proof that one or more scammers are still at large.
At the moment, criminals have cashed inat least 10,000 ETH and 25,000 MTC. The remaining 20,000 MTCs are distributed to over 8,700 addresses. Fraudsters translated BTC more than 24,000 times using more than 71,000 different addresses.
Many of these transactions were conducted throughmixers such as Wasabi Wallet, which uses the CoinJoin protocol to complicate the tracking of funds. According to experts, the large amounts of MTC and ETH left by the scammers are still able to put pressure on the market, and their continued dumping can further negatively affect the price of bitcoin.