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Topic: Scammers move 12k BTC - dump is comming? (Read 584 times)

hero member
Activity: 1498
Merit: 586
February 25, 2020, 07:09:14 PM
#62
What?? for just $12k the bitcoins could dump for such amount? if your worried then the answer is no since the amount is not big to get panic with and if you are been fud by the people who tell you that then listen to the people here since we will give you a clear answer and the amount could cause huge dumps are ranging millions of dollars before the price move.
12k btc is just 112+M on current price and as said this one isnt enough to make some dump in the market.There might be movement but it would just typically be considered as
a usual movement on btc price.As i have read up where these coins are already partitioned or transferred into smaller parts which means tracking of these coins would already be impossible.
Stopping it from getting sold wont be there yet exchangers are free ways to encash these hacked coins.Same as usual!

After separating them into small portions, of course, they won't have such an impact on the price as if scammers had decided to sell everything at once. For sure it would also be difficult to sell everything on one exchange, because if they did, then on this exchange drop to $5k would be 100% sure. Selling 12k BTC at once on many exchanges, may not cause such a large price drop, but it would certainly cause panic and this panic could lead to a decrease of up to $5k.

The possibilities will be on different exchanges, but I think before they dump it they should use btc to buy different coins before they'll able to be successful on their motives. However this situation isn't that confirmed in actual scenario, speculations kept raging with this idea. It still depends on how a certain individual manage to take this, and having any panic can be controlled as long as you learned the reality of everything in cryptocurrency.
sr. member
Activity: 1232
Merit: 266
> CAMPAIGN MANAGER < https://t.me/TheAndy500
February 25, 2020, 04:31:09 PM
#61
What?? for just $12k the bitcoins could dump for such amount? if your worried then the answer is no since the amount is not big to get panic with and if you are been fud by the people who tell you that then listen to the people here since we will give you a clear answer and the amount could cause huge dumps are ranging millions of dollars before the price move.
12k btc is just 112+M on current price and as said this one isnt enough to make some dump in the market.There might be movement but it would just typically be considered as
a usual movement on btc price.As i have read up where these coins are already partitioned or transferred into smaller parts which means tracking of these coins would already be impossible.
Stopping it from getting sold wont be there yet exchangers are free ways to encash these hacked coins.Same as usual!

After separating them into small portions, of course, they won't have such an impact on the price as if scammers had decided to sell everything at once. For sure it would also be difficult to sell everything on one exchange, because if they did, then on this exchange drop to $5k would be 100% sure. Selling 12k BTC at once on many exchanges, may not cause such a large price drop, but it would certainly cause panic and this panic could lead to a decrease of up to $5k.
legendary
Activity: 3094
Merit: 1127
February 25, 2020, 02:15:32 PM
#60
What?? for just $12k the bitcoins could dump for such amount? if your worried then the answer is no since the amount is not big to get panic with and if you are been fud by the people who tell you that then listen to the people here since we will give you a clear answer and the amount could cause huge dumps are ranging millions of dollars before the price move.
12k btc is just 112+M on current price and as said this one isnt enough to make some dump in the market.There might be movement but it would just typically be considered as
a usual movement on btc price.As i have read up where these coins are already partitioned or transferred into smaller parts which means tracking of these coins would already be impossible.
Stopping it from getting sold wont be there yet exchangers are free ways to encash these hacked coins.Same as usual!
legendary
Activity: 2884
Merit: 1117
February 25, 2020, 01:42:19 PM
#59
That is the issue here, we do not see too many bitcoin hackers and scammers getting the punishment they deserve which causes them to continue scamming and hacking. If they had some sort of jail time or something like that in the nations they did it, we would see a lot less scammers and hackers, but since they get nothing, we gonna keep getting these type of people constantly.

Crypto not being too much of a legal problem for us and being unregulated and decentralized brings problems like this to the table, you are free from government most of the time unless you are a super rich person and that results with them being free from government as well. But when someone has 1 bitcoin and nobody knows about it, unregulated and decentralized system is good, when someone steals $12k that's a whole different topic.
hero member
Activity: 2520
Merit: 783
February 25, 2020, 06:23:19 AM
#58
What?? for just $12k the bitcoins could dump for such amount? if your worried then the answer is no since the amount is not big to get panic with and if you are been fud by the people who tell you that then listen to the people here since we will give you a clear answer and the amount could cause huge dumps are ranging millions of dollars before the price move.
legendary
Activity: 2450
Merit: 1047
February 25, 2020, 06:13:31 AM
#57
According to https://twitter.com/chiachih_wu , scammers from PlusToken ponzi scheme move 12k BTC to the addresses that looks like cold wallet:

Here article about that: https://www.cryptoknowmics.com/news/scammers-move-over-12000-btc-from-plustoken-wallet-to-new-address

Here Chiachih_wu is following next transactions: https://twitter.com/chiachih_wu/status/1227150566041649153/photo/1

If they want to dump such a large amount, can we expect a flash crash below $5k?

Personally, I think that they will not be so crazy and if they decide on any sale, they certainly will not want to trigger panic sell, because they would lose a lot on it themselves.

What do you think guys?

is that amount big enough to cost the price to drop to the $5 k level, we are headed to the halving and this year all talks about halving and buying and HODL if they want to dump I don't think there's going to be a domino effect pf panic selling, only those who don't believe in the market and the power of the halving will follow the panic selling.
legendary
Activity: 2968
Merit: 3684
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February 25, 2020, 05:59:16 AM
#56

Nobody has hacked anyone here. These Bitcoins come from a Ponzi scheme called PlusToken. The reason people lost this money was lack of education or greed, or both.
People still need to learn a lot about cryptocurrencies before they become safe for ordinary investors.
Of course, I am against centralization, but when I observe such situations I often think that legal regulations are really needed.

Never mind about normal investors, even serious and veteran investors can't understand bitcoin well enough, let alone use it.

And the way all these crypto lending and DeFi platforms (most still super centralised) attracting the flies, shows that lessons aren't being learnt.

Understand that Bitcoin is proofed against this and it's all ok.
sr. member
Activity: 1232
Merit: 266
> CAMPAIGN MANAGER < https://t.me/TheAndy500
February 25, 2020, 04:21:36 AM
#55
not important if its a cold wallet or hot but the issue here is they are scamers and they make so much money from scamming  . i fell sorry for the people that donated thier money on them  .  12k btc looks small compare to other whale seller on the past   . they even sell over 100 btc and the market didnt dump too much so there is no need for us to worry  . this will only make a small impact on the price  .  they wont loose if the sell in any moment because they only scammed that money anyway  .
if the scammer always runs the action smoothly and always gets a large amount of Bitcoin, this will be a bad thing for the image of bitcoin, very impressed like Bitcoin is not a good instrument because it is easy to hack

Nobody has hacked anyone here. These Bitcoins come from a Ponzi scheme called PlusToken. The reason people lost this money was lack of education or greed, or both.
People still need to learn a lot about cryptocurrencies before they become safe for ordinary investors.
Of course, I am against centralization, but when I observe such situations I often think that legal regulations are really needed.
legendary
Activity: 2478
Merit: 1951
Leading Crypto Sports Betting & Casino Platform
February 22, 2020, 06:13:27 AM
#54
not important if its a cold wallet or hot but the issue here is they are scamers and they make so much money from scamming  . i fell sorry for the people that donated thier money on them  .  12k btc looks small compare to other whale seller on the past   . they even sell over 100 btc and the market didnt dump too much so there is no need for us to worry  . this will only make a small impact on the price  .  they wont loose if the sell in any moment because they only scammed that money anyway  .

The amount that the scammers collected is much more than what is discussed in this thread:

Quote
Chinese media reports that the scam attracted over $3 billion worth of cryptocurrency. We tracked a total of 180,000 BTC, 6,400,000 ETH, 111,000 USDT, and 53 OMG (OmiseGo) that went from scam victims to PlusToken wallets, equating to roughly $2 billion.
https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price

I noticed that when an analysis is made about such fraudulent schemes, everybody talk about the negative impact on the market. But in fact, at the time of the growth of this pyramid, the impact on the market was positive - these scammers created a demand for a third of the annual issue of bitcoin.
full member
Activity: 1638
Merit: 122
February 22, 2020, 05:43:42 AM
#53
 not important if its a cold wallet or hot but the issue here is they are scamers and they make so much money from scamming  . i fell sorry for the people that donated thier money on them  .  12k btc looks small compare to other whale seller on the past   . they even sell over 100 btc and the market didnt dump too much so there is no need for us to worry  . this will only make a small impact on the price  .  they wont loose if the sell in any moment because they only scammed that money anyway  .
legendary
Activity: 3808
Merit: 1723
February 22, 2020, 12:18:47 AM
#52
Most likely it will either be kept in this cold storage address for years or they will do what they did before and just send it to Huobi and sell it there. From what I heard their OTC desk doesn't have as strict KYC and this is why they keep getting away with it.

Another reason could be that its impossible to tell which BTC is the scammers BTC and which is from the early investors for the Ponzi scheme. There are people that invested early and took profit and its difficult to seperate those coins from the scammer coins.

Either way, most likely it won't be sold at once to cause a flash crash, it would set off too many alarms that way.
legendary
Activity: 2478
Merit: 1951
Leading Crypto Sports Betting & Casino Platform
February 21, 2020, 12:39:55 PM
#51
According to https://twitter.com/chiachih_wu , scammers from PlusToken ponzi scheme move 12k BTC to the addresses that looks like cold wallet:

Here article about that: https://www.cryptoknowmics.com/news/scammers-move-over-12000-btc-from-plustoken-wallet-to-new-address

Here Chiachih_wu is following next transactions: https://twitter.com/chiachih_wu/status/1227150566041649153/photo/1

If they want to dump such a large amount, can we expect a flash crash below $5k?

Personally, I think that they will not be so crazy and if they decide on any sale, they certainly will not want to trigger panic sell, because they would lose a lot on it themselves.

What do you think guys?

If you are observing this story (I am observing) then you know that they cannot cash out such large volumes.
Here's a detailed investigation into the scheme by which they cash out money: https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price
There you can see an attempt to evaluate the influence of fraudsters on the price of bitcoin and see that it is not very large. At least there is confidence that there is no need to fear a sharp collapse.
legendary
Activity: 3654
Merit: 1165
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February 21, 2020, 07:43:38 AM
#50
The trouble with $12k being stolen is not that they may sell it one day, they can try it and the worst thing that could ever happen is scammers would sell it and hurt the market which will go down a lot and stay there for a while, but that is recoverable with enough time and enough hype and the price will go up. Remember we were at around $3k for a lot of months and now we are talking about if we will beat $10k to go beyond $12k or not.

However, the trouble is, there are a lot of hackers, scammers and many other bad people here that can disturb the market as a whole.

Fiat currency has hackers and scammers and so forth but fiat doesn't get affected because of it, anyone who steals money from the other person still uses it in the fiat market to buy something with the stolen money so it doesn't get hurt. We have to make sure the scammers and hackers of bitcoin is interested in bitcoin as well, and not interested in turning that into fiat currency.
hero member
Activity: 2604
Merit: 816
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February 20, 2020, 03:30:53 AM
#49
I think the down of bitcoin price now is not related to someone that already moves 12 BTC, but we don't know the truth. Maybe it has a relation, but yes, the trend now still bearish, and we still see the price is going down. But we don't know when bitcoin price will stop because there is no sign that is shown to us so we can hope that the price will stop to go down and it will be back to increase again.
sr. member
Activity: 1456
Merit: 267
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February 20, 2020, 02:28:58 AM
#48
I don't think that they would dump it right away.
The bull run is coming soon so why wouldn't they wait for it?
I think they would start to sell it as soon as the market starts to rise again.
Scammers are also following the trend, They are aware that momentum between bear to bull are already approaching. Chances that they will hold
this coins and only preparing to mass dumped once the value already rising high.
Needs to be more careful if playing around this market.
sr. member
Activity: 994
Merit: 257
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February 20, 2020, 12:51:42 AM
#47
I don't think that they would dump it right away.
The bull run is coming soon so why wouldn't they wait for it?
I think they would start to sell it as soon as the market starts to rise again.
sr. member
Activity: 1498
Merit: 326
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February 19, 2020, 10:48:05 PM
#46
If the coins are known to be tainted, will exchanges even accept them?

Not that law enforcement are ever very useful but it could be the exchanges only hope...
If proven then they should not less the sales of the coins. Exchange known to be centralized as being witnessed for this crime or money laundered they should restrict or domt accept incoming btc deposit within this address holding massive btc.

Are we already experiencing the dump from those scammer?
Or is this a correction from the sudden pump?
Most lilely not due to this scam coins. But the correction maybe correlated with thr gap of btc spread. The traders just filled in the gap that resulted to huge adjustment of price.
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
February 18, 2020, 05:37:23 PM
#45
It seems like 12k BTC is moved but it's not proved that those amount of BTC is sold out If exchange is not involved with this then it is not possible to sell this volume of BTC simultaneously and the other thing is that there is no reason for the market to have such an impact for only 12k BTC. Look at today’s market its pretty good already BTC passed a critical level of 10000 and a Bullish rally has been started.
legendary
Activity: 2618
Merit: 1105
February 18, 2020, 05:16:53 PM
#44
means because of this that makes Bitcoin prices yesterday down?, I just know if there is news about a scammer, but if viewed now the price goes back more than $10000, it is possible that in will continue the bull trend

Yesterday's price decline had nothing to do with these news, in fact BTC never runs on top of news but volumes. There was a lot of volume down to be eaten up by Shorts and they knew they could make a lot of money, it was just a pullback and a move by Shorts to try keeping the price under $10k but that did not happen and BTC is yet again above $10k today. Yes it is in bull trend but things won't be as fast as they were in 2017.
sr. member
Activity: 2436
Merit: 343
February 18, 2020, 05:01:46 PM
#43
means because of this that makes Bitcoin prices yesterday down?, I just know if there is news about a scammer, but if viewed now the price goes back more than $10000, it is possible that in will continue the bull trend
It is because even they sell their scammed Bitcoins in bulk still couldn't affect the market price and trigger for its dump. That was a coincidence that during that time the market dumps a little bit and you are right, it turns back high again.
It sometimes we think negatively and interacted with what we've heard, and this is also a reason why we are easily get caught into FOMO.
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