Against the backdrop of positive predictions and new hopes, the Bitcoin exchange rate is suddenly reversing and rapidly falling, passing one level of support after another, as if not noticing them. And even the US economic war with China and the protests that swept Hong Kong, contrary to all expectations, did not become a driver of growth in the value of digital gold. Although, according to one version, China has the most direct relation to the market decline.
According to Dovey Wan, a well-known cryptocurrency venture investor with Chinese roots, this sale is the work of scammers of the largest Ponzi PlusToken pyramids.
Founding partner Primitive Crypto told Twitter that PlusToken, one of the largest Chinese pyramids in history, has managed to attract more than 200,000 BTC and more than 800,000 Ethereum from 10 million investors.
According to the police, only the well-known PlusToken addresses, which span several blockchains, contain cryptocurrency worth billions of US dollars.
The criminal scheme was covered up by local law enforcement officers, but the fact is that not all participants involved in it were caught and imprisoned. It appears that some of the gang members who hold the keys are at large. This is evidenced by the fact that the audit firm Peckshield discovered more than 1000 BTC, recently transferred to the Huobi and Bittrex exchanges from the well-known addresses of the PlusToken pyramid.
Wang also claims that the alleged scammers, who have yet to catch the police, "transfer their funds in small batches to exchanges, for example, from 50 to 100 bitcoins per batch."
“I couldn’t find the chat now, but starting a few days ago, Chinese traders say that someone continuously sends 100 BTC to Binance,” he writes.
Thus, the market drop can be triggered by the massive injection of large sums of BTC on the market by ex-members of the PlusToken criminal scheme.