Will ETH dump even more due to PlusToken? - page 3.

LouVandetta

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Quote from: cheezcarls on December 19, 2019, 08:10:36 AM

A huge number of ether (ETH) tokens have just moved from a wallet associated with the PlusToken Ponzi scheme. More than $105,099,000 worth of the native crypto asset of the Ethereum network moved between the wallet and an unknown one earlier today.

That's a lot of money they got there. I feel kinda sorry for whoever joined such Ponzi scheme especially newbies, that doesn't know a thing that it's not a good way to invest their money.

Ponzi and the likes is a big NO for those who have the knowledge, sadly not everybode aware of the risk yet.
I can't even imagine if they sell such amount of assets what would happen the price of eth. If it comes to this, I'm afraid to see another dump even though we've only seeing green for a bit. Thankfully Ethereum price as of now is still normal, I hope it won't happen though.

Winscosinally

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Quote from: xZork on December 19, 2019, 08:27:56 AM

Until now, the price of ETH has been growing quite well, but if that amount of ETH is released on the market, the price of ETH will probably drop sharply. Perhaps people should be cautious before deciding to buy eth around this time.

If they dump it will be an golden opportunity to buy eth at cheaper rate, it's just a shame that plustoken went scam, it was huge and too many people get scammed, we need regulation fast

DaMut

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Quote from: FairUser on December 19, 2019, 11:16:20 AM

Quote from: DaMut on December 19, 2019, 08:57:24 AM

this could not be the only reason for the drop, there are many factors determining the price(it might be used to spread the fud to pressure bitcoin). there is no way they will be able to sell it at once because their address is tracked.

Until now, the ETH has not been moved to exchanges yet, so the recent declines have nothing to do with this news. But be careful because this ETH has been moved and it will probably be sold in the next few weeks, and if it happens then I believe ETH will go down to 80$ again.

it might touch $80(flash dump) if they decide to dump it at once but they will not do that because they can get more money by selling it bit by bit. if they are selling it bit by bit, at most the market will touch $100 or $90, I am saying this because the market does not look that bad right now. unless we are seeing another dump on bitcoin, if not it will be at most around my prediction.

adjed

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Any body who has even the minimum experience in Cryptocurrencies should know that Ponzi schemes are a No No because it would always end in one thing... Lamentations and I am not talking about the book of Lamentations in the Bible, I am talking about the real tears and gnashing of teeth. Ponzi fundamentals is very simple, collect from new members to pay old members and when more and more people gets in and the money becomes very large, the owners would just scam exit, it always starts like an amazing deal but it always ends in tears but the sad fact is that there would always be victims.

Ethereum price peaked to almost $1500 per token in early 2018 but when the admins of Plus token finally decided to dump those Ethereum, we might be seeing another massive plunge in ethereum price.

Sithara007

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Quote from: Vishnu.Reang on December 19, 2019, 08:30:20 AM

I am not sure about this. According to the media reports, the dump by the scammers started a few weeks back. But when I check the charts, I can see that Bitcoin is up by around 6%. Some of the other cryptocurrencies have also gained value. From what we know, the Plus Token scam involved the following amounts:

180,000 BTC
6,400,000 ETH
111,000 USDT
53 OMG

This is a partial/incomplete list, but you can see that BTC is among the stolen funds. So I am really surprised with the Bitcoin rally today.

These numbers are really mind-blowing. 6.4 million ETH represents close to 6% of the circulating supply. And we are talking about a scenario where 6% of all the coins were stolen in just one scam. How can the cryptocurrency investors be this much careless or stupid (or both)? After all the scams we had in 2018, these investors were still stupid enough to pour so much money in to this pyramid scheme? BTW, the Plus Token scam involved other cryptocurrencies such as EOS as well, which are not listed in the post above.

The latest news is that the scammers are using exchanges such as Huobi to liquidate their booty. For now, they haven't touched the BTC wallets. They are cashing out the stolen ETH, at a rate of around 10,000 ETH per day.

nomenclatur

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plus token has made eth increasingly dump to the current price reaches $ 128 and potentially will go down again. you lucky that knowing plus token is a scam and a Ponzi scheme I have bought eth around $ 180 and now prices have dropped dramatically I was quite surprised because of eth price declines and very risky.

Reid

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$121 at December 17, $133 at Dec 18 then $128 now. It is not that bad yet.
Maybe the effect will be later on. A week maybe?

This is one problem when there is one option that they require. Instead of the dump being divided into different crypto currency it will be focused on just one.
This time it is Ethereum which is mostly used by ICO scams or other investment.
They might have chosen it because of the slow fluctuation instead of bitcoin that had been dumping for a lot of times now in big numbers.
Scammers are getting wiser. They want higher profits in a currency which doesn't dump in a short amount of time.

minairia3

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Quote from: huu78 on December 19, 2019, 08:53:58 PM

As usual, this big whale will sell all of its assets and ETH is experiencing a dump if all sales are done directly but if gradually will reduce the crashes in the market. Indeed pity those who caught the lure Ponzi because of the gifts that were given interesting and ended they lost it all.

I dont think whales will dump it. They are called whales and considering a very low price now what more they could drag down? Until it reaches 50$? They will probably hide it and move it for on a safe wallet and wait for the turn of events.

Of course they are also wanting a profit not just a free scam money.

fuer44

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I suspect that this dump is approaching the development of Etherher 2.0 and Bitcoin Halving. these efforts could have been made by whales so that the development failed and etherum and bitcoin failed to reach the highest price.

huu78

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As usual, this big whale will sell all of its assets and ETH is experiencing a dump if all sales are done directly but if gradually will reduce the crashes in the market. Indeed pity those who caught the lure Ponzi because of the gifts that were given interesting and ended they lost it all.

bgaf

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I dont think it will affect eth progress with thus but the fud associated together with it maybe. It will affect the price cause probably those move fund will be turn into cash or fiat once eth have increase a bit. Eth doesnt have mistake here, why blame eth for using their network for others? Eth decentralizef approach is good its just some people use it for something like this.

andika2018

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Quote from: Vishnu.Reang on December 19, 2019, 08:30:20 AM

I am not sure about this. According to the media reports, the dump by the scammers started a few weeks back. But when I check the charts, I can see that Bitcoin is up by around 6%. Some of the other cryptocurrencies have also gained value. From what we know, the Plus Token scam involved the following amounts:

180,000 BTC
6,400,000 ETH
111,000 USDT
53 OMG

This is a partial/incomplete list, but you can see that BTC is among the stolen funds. So I am really surprised with the Bitcoin rally today.

Maybe Bitcoin rallied yesterday because it was influenced by American political conditions other than that in my opinion there hasn't been a massive movement of Bitcoin sales. Movement of the scammer's wallet should be followed by the police so that later it can be detected who the real fraudster is

DeSousa

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Leema

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Some crypto experts are claiming Plus Token scammers are at the base of the recent Bitcoin price plunge, as the crypto criminals liquidated their BTC stash to exchanges like Huobi. Nevertheless, the current transfers quickly became a catalyst for fear in the crypto sector.

Teraboy

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Quote from: Katashi on December 19, 2019, 01:13:05 PM

For sure it will affect the Ethereum market but I think it will not last long, considering that there is a big development coming for Ethereum so I think it can recover easily. Also, I'm expecting that more investors will come in at the start of 2020 and it may give a big impact on the crypto market as well as for Ethereum.

It will last long caused by plustoken is holding a lot of ethereum and it's more than 800k ethereum. So many people have made their own prediction of the plustoken dump will not affect ethereum only but the whole of crypto consider plustoken has already raised more than 2 billions in form of the various assets.

That will bring a very bad impact to the price of ethereum and that needs more time for ether to recover its price caused by dump from plustoken.

Mike Mayor

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Quote from: CjMapope on December 19, 2019, 10:10:52 AM

Quote from: cheezcarls on December 19, 2019, 08:10:36 AM

A huge number of ether (ETH) tokens have just moved from a wallet associated with the PlusToken Ponzi scheme. More than $105,099,000 worth of the native crypto asset of the Ethereum network moved between the wallet and an unknown one earlier today.

The Twitter account Whale Alert (@whale_alert) highlighted the huge transfer this morning. The total number of Ether moved was a massive 789,525 ETH.

Source link here

This is something that we feared the most, unless you are a buyer waiting for your buy order to be filled.

Whale Alert keeps monitoring the wallet that are being used by PlusToken, and it's now being moved to an unknown wallet.

I remember that time when I was in Singapore, one weird looking guy approached me and introduced me to PlusToken. As what I have seen in their compensation plan, I immediately moved away and said "No, I'll pass!". Ponzis are not for me.

I just feel sorry for those who are being victimized by PlusToken.

when will people learn? Sad

i know some people would say if you get scammed you deserve it in crypto, but it hurts us all really Sad

as it hurts mass adoption
this isnt the first ICO to have the power tho, EOS had way more ETH, and have been laughing at people buying their bags ever since
crypto is such a shitshow now, i cant recommend anyone to invest in anything, even BTC anymore Sad

too scammy and manipulated now crypto is : /

Yeah well, people want to support shit and but shit. People support any bounty. It's a scammers world out there and you can blame bounty idiots for not having a life and just joining and supporting anything. They have no standards or anything and clearly their time is not important to them. If people want to be stupid that is their own fault. It just annoys me that legit people don't get cut of what these scammers stole. That money could have been used for good now the scammers have it. Pisses me off.

Katashi

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For sure it will affect the Ethereum market but I think it will not last long, considering that there is a big development coming for Ethereum so I think it can recover easily. Also, I'm expecting that more investors will come in at the start of 2020 and it may give a big impact on the crypto market as well as for Ethereum.

nutriagrigia

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it can be a very big problem if they start selling ETH, but I don’t think they will do it now. maybe they will do it at the next growth. if the Ethereum rises to $ 200, then most likely they will sell their Eth to get the money. but we can’t even guess what kind of plans these scammers can have. Let's all hope that this is just a scarry stories

kaneki007

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I feel very sad that many people are affected by scams because of the PlusToken Ponzi scheme, i already know that it is Ponzi and i don't want to join the Ponzi scheme. And now a lot of news content are crypto dump prices because plustoken sells BTC, ETH and USDT

Yudhisthir

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There's no fault of the coin or blockchain if people are naive enough to jump into a ponzi. I too think the ponzi was just creating a increased number of transaction but had no significant effect on the price of Ethereum. It was not as popular in other parts of world and it got stopped before they ran away with most of those coins.

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