Cryptocurrency analysis company Lookonchain had warned earlier today about a selloff in Ethereum (ETH) that may be originating from China.
According to Lookonchain, a large number of cryptocurrency wallets that had not shown any activity for about 3 years suddenly became active and moved $ 2 billion worth of Ethereum. It was stated that the funds in the wallets came from the wallet named “Plus Token Ponzi 2”. In the Plus Token Ponzi fraud scheme, these ETHs were seized following the operations of the Chinese police.
However, Lookonchain has now deleted its Tweet containing the allegations in question. In his statement, a Chinese cryptocurrency analyst stated that the ETHs seized by thieves in the fraud scheme in question were already sold through Huobi between June and September 2021.
Currently, only 12 addresses have collected a total of 25,757 ETH ($63.1 million) from Plus Token-related ETH addresses in the last 30 hours. In other words, the majority of the ETH in question had already been sold in 2021, and no significant additional movement was observed today.
*This is not investment advice.
