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    Chinese police wallets move nearly $2 billion in ETH

    News
    ByThiên Hà07/08/2024
    Hundreds of cryptocurrency wallets that had been inactive for the past 3.3 years, have recently begun transferring approximately 789,533 ETH (about $2 billion). This has attracted attention within the cryptocurrency community due to the unusually large and significant amount of ETH being moved.  
    An anonymous wallet transferred a large amount of ETH
    An anonymous wallet transferred a large amount of ETH

    About 3 hours ago, these wallets began transferring 789,533 ETH. On-chain tracking reveals that this activity originates from a wallet named 'Plus Token Ponzi 2,' which is believed to be connected to the notorious Ponzi scheme

    The Ponzi 2 wallet transferred ETH to the 'b5a' wallet, which then moved the ETH to the '73B' wallet.
    The Ponzi 2 wallet transferred ETH to the 'b5a' wallet, which then moved the ETH to the '73B' wallet.

    In 2020, the Plus Token Ponzi 2 wallet distributed a total of 789,533 ETH to thousands of other wallets. Since 2021, this wallet has not made any further transactions. Now, the wallets that were allocated ETH by Ponzi 2 have begun transferring these funds to other anonymous wallets.

    "The '73B' wallet continues to distribute funds to multiple other wallets."

    These wallets are believed to belong to the Chinese government, as the ETH in question was seized by Chinese authorities during the crackdown on the Plus Token Ponzi scheme.

    At that time, Chinese police confiscated 194,775 BTC ($11.2 billion), 833,083 ETH ($2.11 billion), 487 million XRP ($252 million), 79,581 BCH ($25.8 million), 1.4 million LTC ($82.3 million), 27.6 million EOS ($12.7 million), 74,167 DASH ($1.7 million), 6 billion DOGE ($609 million), and 213,724 USDT.

    The true purpose behind the recent movement of these wallets remains unclear. However, the cryptocurrency community is concerned about the potential for a large-scale sell-off, especially given the current sensitive market conditions.

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    Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.

    Further discussion at

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