PLUS Token Scam Dumps Another 13,000 BTC - Another reason for the BTC drop? - page 2.

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: cryptowomba on March 19, 2020, 06:38:52 AM

I think it is one of the things that went missing as most people were focusing on the economic damage from the oil price wars and the caronavirus.

Like the image as well on the article, will read more articles from BeInCrypto.

If you are watching that activity that has already made by plustoken wallet and it was also contributing a lot to the big dump that happened last week. I can say we are not yet free from the plustoken.
With so many businessmen were taking their money from the developing country move to the developed country and that makes the stock market is not yet feeling panic again.

qazgroup

member

Activity: 1022

Merit: 20

RiveMont

Well even if this was one reason of the market crash be happy now because market has eaten up this heavy selling although the major selling came from corona virus panic selling which has also been controlled 100% in its originating country China as no new case has been reported today so yes things are getting back to normal and things are starting to look great for crypto market now.

travwill

sr. member

Activity: 1313

Merit: 278

An interesting point. I am sure scammers will select the most suitable moments on the global stage to try to launder or cash out their bitcoins with them.
They need to hide behind some kind of noisy event so that they would be diverted from observation.

cryptowomba

full member

Activity: 234

Merit: 100

I think it is one of the things that went missing as most people were focusing on the economic damage from the oil price wars and the caronavirus.

Like the image as well on the article, will read more articles from BeInCrypto.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: ?? on ??

Even if we consider this thing as the cause of dump in bitcoin price then what has caused the dumping of all other coins as well? Eth reached 288 few days ago and now it is back below 200 same goes for all major coins, i think this correction was necessary to move forward and also it was triggered by many other factors but halving and other events will hopefully be very positive for crypto market.

I don't know why you think the correlation is necessary to move forward but the OP makes sense! Everything moves based on a simple formula - demand supply! 13,000 BTC is a big amount and if such amount of bitcoins have flooded the market, the price is destined to go down! Simply because the supply has gone up as compared to the demand. Covid-19 has possibly affected local industries but how can it affect bitcoin market because it is not bound by any geography and Covid-19 has not yet become a global epidemic. The current market crash we are seeing, is possibly due to the huge number of selling pressure from plus token scammers!

fortunecrypto

legendary

Activity: 2450

Merit: 1047

thecryptocurrency.directory

Quote from: roganite on March 10, 2020, 10:11:23 AM

One less known source of the sell off is the PLUS token situation.

PLUS Token continues to dump its stolen Bitcoin (BTC) on the market. The move was correlated with the recent price drop which means the scam may have exacerbated Bitcoin’s losses yesterday. PLUS Token was among the largest scams in the cryptocurrency industry, and it continues to haunt the entire market. Repeatedly, the wallets linked to the scam have been dumping their holdings en masse and there’s still a lot left to be sold off.

On average, the PLUS token scam has been selling off 1,300 BTC daily. This weekend, however, some 13,000 BTC ($118M) was moved to be sold off. The owners of this scam wallet did the same thing when Bitcoin crossed $10,000 earlier this year.

I'm sure that the recent economic sitation has played a part, but this one has gone unnoticed to most people. If you want to read the full article, you can click on the link below.

https://beincrypto.com/plus-token-scam-dumps-another-13000-btc-118m-may-be-responsible-for-bitcoin-drop/

They just wait for the right time and the right scenario, we all thought the Corona Virus has something to do with the dump, and I also thought that now it was exposed as the Plustoken, I hope the authorities and the exchanges can do something this, it can ruin their reputation if they let these scammers get away selling their coins.

20kevin20

legendary

Activity: 1134

Merit: 1598

Quote from: ansi on March 10, 2020, 11:35:14 AM

13000 BTC means nothing in the crypto market or even in the BTC market alone.
These kind of news whenever the market bleeds means nothing, they just try to find that " why the market is bearish ", they simply forget the fact that this is how market works, waves of ups & downs till eternity, old news, nothing new about this.

13k BTC actually means a shit ton of Bitcoins to sell and affects the markets very easily. But combine these 13k BTC sale with the current global situation (health, economy etc) and you'll get a very negative combo BTC has to fight.

And it's obvious people are looking for the reason of market selloffs. You have to be up to date with the news if you don't want to lose money as a speculator or investor.

ansi

sr. member

Activity: 882

Merit: 254

13000 BTC means nothing in the crypto market or even in the BTC market alone.
These kind of news whenever the market bleeds means nothing, they just try to find that " why the market is bearish ", they simply forget the fact that this is how market works, waves of ups & downs till eternity, old news, nothing new about this.

roganite

full member

Activity: 235

Merit: 100

One less known source of the sell off is the PLUS token situation.

PLUS Token continues to dump its stolen Bitcoin (BTC) on the market. The move was correlated with the recent price drop which means the scam may have exacerbated Bitcoin’s losses yesterday. PLUS Token was among the largest scams in the cryptocurrency industry, and it continues to haunt the entire market. Repeatedly, the wallets linked to the scam have been dumping their holdings en masse and there’s still a lot left to be sold off.

On average, the PLUS token scam has been selling off 1,300 BTC daily. This weekend, however, some 13,000 BTC ($118M) was moved to be sold off. The owners of this scam wallet did the same thing when Bitcoin crossed $10,000 earlier this year.

I'm sure that the recent economic sitation has played a part, but this one has gone unnoticed to most people. If you want to read the full article, you can click on the link below.

https://beincrypto.com/plus-token-scam-dumps-another-13000-btc-118m-may-be-responsible-for-bitcoin-drop/

Topic: PLUS Token Scam Dumps Another 13,000 BTC - Another reason for the BTC drop? - page 2. (Read 201 times)