ccording to recent data, various wallets linked to the PlusToken Ponzi scheme have now been reactivated, transferring 2876 Ethereum into a single wallet.
The wallets which have been dormant for years, transferred tokens worth around $6 billion. Analysis traced the funds back to the wallets seized from PlusToken during the Chinese law enforcement takedown in 2020. About 27 alleged masterminds were arrested by the Chinese law enforcement.
The motives behind this transaction are vague and this has caused the victims to become worried. Stakeholders speculate that the transfers might be in preparation to repay victims, liquidate assets, or even more illegal activity. However, the possibility of illegal schemes is unlikely given the scrutiny of the PlusToken wallets.
Concerns Over Market Impacts
Specifically, some investors worry that the entities behind this transfer might flood the market with the assets which may place a bearish sentiment among investors.
For now, law enforcement will continue monitoring the wallets for any more developments. Hopefully, things will become clearer especially for the victims who are waiting to be compensated.
