November 27, 2022

PlusToken crypto pyramid puts pressure on BTC

PlusToken crypto pyramid puts pressure on BTC

The pressure exerted on the market by selling bitcoins of the $ 2 billion PlusToken crypto pyramid is likely to be remain in the foreseeable future, writes Bloomberg, citing a new study by Chainalysis.

Analysts estimate the amount of liquidatedPlusToken assets at 25,000 BTC. Another 20,000 BTC, they say, remains at the disposal of attackers; these funds are distributed to more than 8,700 addresses. User investments were also attracted to Ethereum and other cryptocurrencies.

“This factor should definitely be considered,when you think about where the price will go, at least in the short term, said Chain Gradis senior economist Kim Grauer. “According to our research, downward pressure may continue.”

Analysts say that a significant partThe transaction scheme was passed through service mixers, which is why it is usually not possible to establish the true owner of such funds. Chainalysis suspects that over-the-counter trading platforms, where transactions take place directly between users, help to launder criminal proceeds and withdraw them through exchanges of Chinese origin, such as Huobi.

Former founder of a digital management companyIkigai Asset Management's assets Travis Kling expressed the opinion that without the negative impact of PlusToken and similar schemes, bitcoin could be traded significantly higher than its current values.

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