$3B Ponzi Scheme is Dumping BTC by the Hundreds

7788bitcoin

legendary

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Quote from: Wilhelm on August 28, 2019, 08:15:02 AM

What if Craigh Wright ran this ponzi scheme.

Do not give him ideas like this Tongue

.

People are really stupid enough to invest in these bullshit investment schemes designed to run away with their money, we have seen that time and again and still the amount that is being scammed gets bigger, three billion dollars being collected running a ponzi, no wonder people are coming up with new ways to raise those kind of amounts .

Jating

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Quote from: SquallLeonhart on August 26, 2019, 03:22:30 AM

Quote from: Jating on August 24, 2019, 08:00:16 AM

Quote from: crzy on August 24, 2019, 05:59:41 AM

That's too much, and that might be the reason why we are falling this time. Its not good to hear a scam news like this, I feel sorry to those who trust that shit project. Didn't hear any news about that one but for me its really a big money. Hundreds of people are losing their faith with cryptos again, this is bad.

This is a week old story, so I don't know why you consider this news still the reason of the current decline. This kind of negative news only has a short impact on the price and on the market. Losing their faith on bitcoin? I would say that they are still going crazy about it.

It might be a week old story but the effect could be gradually because pulling such amount of money out of the market is not going to be a sudden thing due to all these kyc that has been out in place and it would be easy to detect the fund and probably block it, so they will be moving it little by little as op said they have been doing, so don’t doubt that it would still be having effect on the market, mate we are not talking of millions hear, we are talking of billions of dollars which is quite huge amount of money.

Do you know the time it will also take them to sell that amount because I doubt if there is even any local exchange that will be able to buy such btc at once, so they will have to be taking it slowly out of the market till they empty their wallet and I hope that before they get the chance to do so, they might probably have been caught.

It's just like that mate, and there's no gradual pulling effect on the price. There's even some who created a new thread about billions worth of bitcoin is also in the move, and we haven't seen any impact on the price at all as we relatively stand above the five figures still.

People are immune to this kind of news, as I have been saying all along, investors are really wise and won't simply be affected by this (FUD) news. They really mature and those who panic on such news are total beginners in the this ecosystem.

Wilhelm

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What if Craigh Wright ran this ponzi scheme.
He claims he is satoshi.
Pays tax.
Has legally attained a few billion Shocked

fullhdpixel

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You do not need to hear about 3 billion dollar heist in everywhere of the world, I mean if there was one in USA maybe Americans will hear about it and if the news are all around coverage than some of the worlds people who look into international news will learn about it but do you really think an old dude living in Thailand will hear about a 3 billion dollar heist in USA? I don't think so, same could have happened here, we have no idea if its on news or not, we hope he gets caught and we hope he will see his time in jail but at the same time we can't make the whole media network around the world make it a news, maybe financial channels may talk about it for like a minute but every day trillions exchange hand in this world so it would be useless waste of time.

SquallLeonhart

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Quote from: Jating on August 24, 2019, 08:00:16 AM

Quote from: crzy on August 24, 2019, 05:59:41 AM

That's too much, and that might be the reason why we are falling this time. Its not good to hear a scam news like this, I feel sorry to those who trust that shit project. Didn't hear any news about that one but for me its really a big money. Hundreds of people are losing their faith with cryptos again, this is bad.

This is a week old story, so I don't know why you consider this news still the reason of the current decline. This kind of negative news only has a short impact on the price and on the market. Losing their faith on bitcoin? I would say that they are still going crazy about it.

It might be a week old story but the effect could be gradually because pulling such amount of money out of the market is not going to be a sudden thing due to all these kyc that has been out in place and it would be easy to detect the fund and probably block it, so they will be moving it little by little as op said they have been doing, so don’t doubt that it would still be having effect on the market, mate we are not talking of millions hear, we are talking of billions of dollars which is quite huge amount of money.

Do you know the time it will also take them to sell that amount because I doubt if there is even any local exchange that will be able to buy such btc at once, so they will have to be taking it slowly out of the market till they empty their wallet and I hope that before they get the chance to do so, they might probably have been caught.

adaseb

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There was a company that did an analysis on the ETH network for the Ponzi ETH wallet and it turns out that the money was sent to about 250,000 different ETH addresses. For some reason I can't find the link anymore but it was posted by someone on Twitter somewhere.

Anyways the company stated that it would be very difficult to find out which ETH is tainted and which is legit. Keep in mind this was a Ponzi scheme so obviously the early and middle investors made some profits and cashed out. They obviously aren't the thieves here and their withdraw would be legit. So with so many addresses its impossible to tell which is stolen and which is legit.

Herbert2020

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Quote from: Reid on August 22, 2019, 05:59:58 PM

Quote from: avikz on August 15, 2019, 12:55:05 PM

I
But such kind of incidents are actually reminding us the requirement of a strict regulatory policy at international level. Scams are on the rise and without a strict global norm, such incidents will occur again and the scammers will get away it!

I strongly agree with this.

The country which the reside should definitely strict when it comes to even just thousand of dollars companies.
Permits. There should one group that should be checking this and not let run any garage type of company. There should be traces on where a large amount of money is getting in and out.
That will be clue to pinpoint this kind of evil deeds.
It should be stopped before they could even spend it.

that would first require a large amount of centralization in the market that will come at a lot of cost. and also the end result only seems good in theory (eliminating scams and preventing thieves from getting away with it) but in reality it will only restrict and harm the regular users who wanted a free market to trade bitcoin with fiat and not be harassed by the government agencies every moment.

bbc.reporter

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Quote from: Wilhelm on August 25, 2019, 11:09:26 AM

Quote from: bbc.reporter on August 24, 2019, 10:24:14 PM

Imagine if the $3 billion worth of bitcoins was really Warren Buffett's wallet. Oh no, they found my secret storage of rat poison squared hehehehe.

Would be funny if that old fart was holding >21000btc and had been lying all the time Cool

Waiting for it to go to a million and then selling for 21 billion dollars.

This would be the headline hehehe. Old fart makes $21 billion on investment in rat poison squared.

However, on the news, it appears that some whales might desire more privacy to move their coins. How can this be done in bitcoin? What if the billions moving in bitcoin were really from a private investor?

His privacy is destroyed.

Wilhelm

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Quote from: JohnBitCo on August 25, 2019, 12:58:57 PM

Quote from: ccryptopark on August 15, 2019, 11:49:04 AM

Did anyone hear about the PlusToken scam? 10 million investors scammed of $3 billion seems like a massive number! Ciphertrace mentioned in their recent report that the PlusTooken scheme was the largest single incidnet of loss in 2019.

The image in this article shows the movement of money from addresses which is pretty crazy. Movements of 50-100 BTC batches appear to move into exchanges.

This is so disappointing imo another scheme and a big one at that

https://cointelegraph.com/news/3b-ponzi-scheme-is-now-allegedly-dumping-bitcoin-by-the-hundreds

This is sad that every now and then we hear people becoming victim of these Ponzi schemes and these scammers getting more and more rich each day.

What is more scary here is what these scammers will do with this money. They can re-invest little portion of this scam money to come up with another big scam project. They have the funds to market their scam as legal and again make people lose money. There is no stoppage to these scams. Angry

It's insane that they can do it in plain sight and get away with it.
How the f••K do you launder $3B? Anyone who watched breaking bad knows laundering has its limits...

JohnBitCo

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Quote from: ccryptopark on August 15, 2019, 11:49:04 AM

Did anyone hear about the PlusToken scam? 10 million investors scammed of $3 billion seems like a massive number! Ciphertrace mentioned in their recent report that the PlusTooken scheme was the largest single incidnet of loss in 2019.

The image in this article shows the movement of money from addresses which is pretty crazy. Movements of 50-100 BTC batches appear to move into exchanges.

This is so disappointing imo another scheme and a big one at that

https://cointelegraph.com/news/3b-ponzi-scheme-is-now-allegedly-dumping-bitcoin-by-the-hundreds

This is sad that every now and then we hear people becoming victim of these Ponzi schemes and these scammers getting more and more rich each day.

What is more scary here is what these scammers will do with this money. They can re-invest little portion of this scam money to come up with another big scam project. They have the funds to market their scam as legal and again make people lose money. There is no stoppage to these scams. Angry

Wilhelm

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Quote from: bbc.reporter on August 24, 2019, 10:24:14 PM

Imagine if the $3 billion worth of bitcoins was really Warren Buffett's wallet. Oh no, they found my secret storage of rat poison squared hehehehe.

Would be funny if that old fart was holding >21000btc and had been lying all the time Cool

Waiting for it to go to a million and then selling for 21 billion dollars.

irsykes

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Ponzi scheme i think not really surprised. Because it already happen so many times, especially when ponzi site scheme be trend in past. A lot of bitcoin dumped and it must already warn people about danger of ponzi scheme. But in fact, there are a lot of people who still want to get money instantly and without hardwork. So if Ponzi shceme still exist in cryptocurrency world. I think it is people's mistake because not learn from past and keep to trapped in same scheme. Maybe if people know how bad is ponzi scheme, they wouldn't exist anymore.

bbc.reporter

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Imagine if the $3 billion worth of bitcoins was really Warren Buffett's wallet. Oh no, they found my secret storage of rat poison squared hehehehe.

Jating

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Quote from: crzy on August 24, 2019, 05:59:41 AM

That's too much, and that might be the reason why we are falling this time. Its not good to hear a scam news like this, I feel sorry to those who trust that shit project. Didn't hear any news about that one but for me its really a big money. Hundreds of people are losing their faith with cryptos again, this is bad.

This is a week old story, so I don't know why you consider this news still the reason of the current decline. This kind of negative news only has a short impact on the price and on the market. Losing their faith on bitcoin? I would say that they are still going crazy about it.

Quote from: Herbert2020 on August 21, 2019, 03:21:46 AM

it is funny that nobody does a simple calculation to realize how fake these numbers that have been spreading by the news sites are.
here is what they are basically saying: "$3 billion dollar worth of bitcoin was sold and price only went down about 5% and came back up in less than 12 hours". so either bitcoin market grew ridiculously big overnight and we missed it that it could absorb this many coins sold without moving at all or the number was a big lie!

Probably a lie, there's a lot of scams going on right now but we haven't seen any impact of the price yet. Even this news though, for me the current bumpy ride, but we are still doing good as the support for $10k is very good at this point.

crzy

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That's too much, and that might be the reason why we are falling this time. Its not good to hear a scam news like this, I feel sorry to those who trust that shit project. Didn't hear any news about that one but for me its really a big money. Hundreds of people are losing their faith with cryptos again, this is bad.

el kaka22

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3 Billion dollars is way too much money to go unnoticed, if you ask me if this case was true then I would assume we would have seen it all over the news, it just doesn't make sense that there is a 3 billion dollar worth of ponzi happened somewhere that is getting cashed out right now so obviously that someone figured it out and shared with the world but there was no arrests or there was no warrants or there is any news about it anywhere in the world.

Even television channels would give news about a 3 billion dollar heist, we are talking about less money than that was stolen in television show la casa de papel which if you seen you know 984 million euro was a ton of money, so in a show where "so much money that they robbed a central bank that prints money" is only 984 million, 3 billion is 3 times that, of course it would have been news if it was real.

Slow death

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Quote from: ccryptopark on August 15, 2019, 11:49:04 AM

Did anyone hear about the PlusToken scam? 10 million investors scammed of $3 billion seems like a massive number! Ciphertrace mentioned in their recent report that the PlusTooken scheme was the largest single incidnet of loss in 2019.

The image in this article shows the movement of money from addresses which is pretty crazy. Movements of 50-100 BTC batches appear to move into exchanges.

This is so disappointing imo another scheme and a big one at that

https://cointelegraph.com/news/3b-ponzi-scheme-is-now-allegedly-dumping-bitcoin-by-the-hundreds

after this news, there was this other news related to the same subject:

Researchers: Bitcoin Price Drop Not Caused by $3B Ponzi BTC Dump

and this:

PlusToken Suspected Ponzi Moves $240M in Four Bitcoin Transactions

is a news that has many unanswered questions

Reid

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Quote from: avikz on August 15, 2019, 12:55:05 PM

I
But such kind of incidents are actually reminding us the requirement of a strict regulatory policy at international level. Scams are on the rise and without a strict global norm, such incidents will occur again and the scammers will get away it!

I strongly agree with this.

The country which the reside should definitely strict when it comes to even just thousand of dollars companies.
Permits. There should one group that should be checking this and not let run any garage type of company. There should be traces on where a large amount of money is getting in and out.
That will be clue to pinpoint this kind of evil deeds.
It should be stopped before they could even spend it.

vintages

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That's one crazy and annoying thing about ponzi scheme.
Not only do they scam people, this is another second best of what they know how to do best.
It's a bad thing, Bitcoin has become their demonstration ground.
Come to think of it, this should be what Ryam Azab Youssef should be advocating about; how to destroy their Bitcoin and not that of Satoshi.

Bitcoin Smith

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Cashback 15%

Quote from: ccryptopark on August 15, 2019, 11:49:04 AM

Did anyone hear about the PlusToken scam? 10 million investors scammed of $3 billion seems like a massive number! Ciphertrace mentioned in their recent report that the PlusTooken scheme was the largest single incidnet of loss in 2019.

The image in this article shows the movement of money from addresses which is pretty crazy. Movements of 50-100 BTC batches appear to move into exchanges.

This is so disappointing imo another scheme and a big one at that

https://cointelegraph.com/news/3b-ponzi-scheme-is-now-allegedly-dumping-bitcoin-by-the-hundreds

Yes this was one of the reason why BTC got dumped recently below $10K but now the price seems going bullish for the last 3 hours which made me believe that the effect of that scam already become null and the right investors are again started to invest.

Topic: $3B Ponzi Scheme is Dumping BTC by the Hundreds (Read 506 times)