PlusToken affecting the whole Crypto Market including Bitcoin and Ethereum

[Harrydose]

Plus Token was a venture stage in the appearance of an entangled cryptocurrency Ponzi conspire. System managers ended the service in June 2019. Fraudsters dropped the program by expelling more than $3 trillion in Cryptocurrencies (Bitcoin, Ethereum, and EOS) and leaving the “sorry we’ve fled” content. This has finished in a worldwide quest for Plus Token venture directors and engineers.

In Korea and China, PlusToken turned out to be famous, particularly among financial specialists curious about cryptocurrency. Besides Token was a high return speculation plot that gave immense “venture” motivating forces in China and Korea to clueless exploited people.

Source: TheCoinRepublic

[avikz]

Plustoken was a real bummer of crypto market while the interest was growing among the common mass about cryptos! It's goodbthat China police was able to arrest 6 criminals but few more of them are still untouched. I have recently read an article from Chainanalysis which says that scammed cryptos are still moving between different accounts. Read it below,

https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price

They are also estimating that plustoken scammers are probably bringing the price down due to increased supply in the secondary market.

[ansi]

I don't blame these guys to keep scamming in this cryptosphere, actually it's the perfect area for these scammers. No laws to put them in jail, just some random people gather some money (millions actually), then Bye Bye...

People still don't get it, it('s a damn so called " high-yield investment program " = Ponzy.. you don't need anyone to tell you that.

[bigcash2011]

It can definitely impact the overall crypto market because reportedly they are holding billions of dollars worth of btc and eth from innocent investors who were lured to invest in their ponzi scheme in greed of massive profits and you know people always fall for the shiny things rather than the real things, unfortunately plustoken ponzi can dump the market when they will sell their btc and eth for cashing out.

[GucciBoy]

It's SO easy to fool everyone involved with crypto, since the majority of people don't know jack about the underlying tech. It's the same when people talk about decentralized exchanges (DEX's).

It's kinda funny that nobody seems to understand that a REAL DEX, cannot enforce KYC. Doesn't use accounts, doesn't require your phone number, or any personal details at all.
Binance, Waves, Bisq, IDEX, and many others ISN'T truly decentralized, so it's really no wonder that scammers have it so easily in the crypto space.
The only real DEX on the market, is still Blocknet.. 

[VanDeinsberg12]

I guess if the last dump that caused by the plus token. there is no a bad news to affect the market and bitcoin price itself is going down.
2 billions of crypto can drive whole of market going down. Just curious how stupid those people are investing in the past without know the track record of the company.
Usually those investors are creating report to the institutional but why i don't even hear even a single news about that.

800k ether still remaining and more than 40k bitcoin. that looks so crazy.

[CjMapope]

Plus Token was a venture stage in the appearance of an entangled cryptocurrency Ponzi conspire. System managers ended the service in June 2019. Fraudsters dropped the program by expelling more than $3 trillion in Cryptocurrencies (Bitcoin, Ethereum, and EOS) and leaving the “sorry we’ve fled” content. This has finished in a worldwide quest for Plus Token venture directors and engineers.

In Korea and China, PlusToken turned out to be famous, particularly among financial specialists curious about cryptocurrency. Besides Token was a high return speculation plot that gave immense “venture” motivating forces in China and Korea to clueless exploited people.

Source: TheCoinRepublic

im surprised they got away with that, tho maybe i shouldn't , it seems our current userbase has moved into the noob category again
this happened during the pump of 2017-2018 there, way too many newbs that just wanted to invest in SOMETHING.
This should never have gotten as big as it did      ugh, idk if crypto will ever go mainstream, or if we will just be free money for scammers for the next 30 years : /

[Leema]

The move could result in challenging several years for Ethereum, and the entire crypto sector as well. Apart from Ethereum, Plus Token wallets also contained Bitcoin and EOS. Crypto analysis company Chainalysis conducted research, showing that Plus Token wallets hold around 180,000 BTC and nearly 6,4 million Ethereum coins. As of press time, the total amount of cryptocurrencies in the hands of Plus Token exceeds $2,1 billion, which is enough large sum to cause significant fluctuations in the crypto sector.

[Kotone]

Is really nothing can do about these guys. Even though they are professionals if the huge amount they stole will affect the market. SEC or any agency should make a move to put this in warm jail, this is so disappointing that they fan easily fled with huge asset at hand. This make sense why the market is down few days already.

[knuckey]

When investment interest in crypto continues to grow, there is a massive fraud like this. I hope that there are strict actions from the Chinese and Korean governments against this fraud incident, so that investors can be calm and maybe their assets can be returned. I think it is not only the affected markets, but public interest and trust in crypto will decrease.

[pakhitheboss]

I still do not get it, after so many scams still people are willing to invest in scam project. Are they so dumb? to believe that they will be able to earn from ponzi scheme like plus token. This why you need regulation to stop such scammers. Without any law they know they will be able to make millions from scams only.

[jossiel]

Are they really the reason why the market dumped lately?

These scammers always bring bad reputation to the crypto market. Investors should also stop investing and supporting these scam schemes, they should learn from these experiences and never invest again if they have seen the same style.

[starblocks]

This is another High Yield Investment Program (HYIP) that went bust and the team pulled an exit scam and these types of incidents are not what cryptocurrency should be all about although there are many bad actors so it pays to do your due diligence when choosing what projects to invest in

[puremage111]

The main problem of this is, it never end

Trust me, when one day people still have greed, when people still don't read, when people still dun learn and wanted money fast
These schemes will never be gone, and it will always exist

Kinda a bad thing that we have these people in this industry

[Kemarit]

Plustoken was a real bummer of crypto market while the interest was growing among the common mass about cryptos! It's goodbthat China police was able to arrest 6 criminals but few more of them are still untouched. I have recently read an article from Chainanalysis which says that scammed cryptos are still moving between different accounts. Read it below,

https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price

They are also estimating that plustoken scammers are probably bringing the price down due to increased supply in the secondary market.

Untouched and the effects that they have done, it has a domino to other crypto as well pulling the price to it's lowest again this year. It was a good read coming from Chainanalysis they've probably nail everything and that's why everyone was wondering why the price keeps going down when we have a lot of good news around. So most probably scammers behind PlusToken are dumping their loot, they don't care what the price is, as long as they can cash it out fast and then disappear.

[Lauren Smith]

3 trillion? Are you sure about that? Wtf is wrong with peoples brain that they invest in this shit? Yeah maybe you will profit but only because you got in lucky and got in early. The profits you get are basically stolen from someone else since its a Ponzi. I wish people involved in crypto haloed good projects but greedy people won't because good projects don't promise you all these profits. Its almost like people want to be lied to. They don't want to hear they can make %6 a year. They want to hear to makes 6% a month.

[lolgato1]

And what about other smalle scam ICOs? They also are dumping the collected ETHs and BTCs from token sales. If you calculcate also with these cryptocurrencies you will get answer why market is dumping.

[pixie85]

3 trillion? Are you sure about that? Wtf is wrong with peoples brain that they invest in this shit? Yeah maybe you will profit but only because you got in lucky and got in early. The profits you get are basically stolen from someone else since its a Ponzi. I wish people involved in crypto haloed good projects but greedy people won't because good projects don't promise you all these profits. Its almost like people want to be lied to. They don't want to hear they can make %6 a year. They want to hear to makes 6% a month.

I don't get why people would invest millions of dollars in a scam altcoin when you have decentralized Bitcoin that won't scam you. Are people really this stupid? Someone comes and pitches you a new altcoin that's going to be worth millions and you don't ask who owns it and what's the difference between it and other thousands of shitcoins on this market. You throw money at them without saying a word.

Here have my 100 thousand I want to help your shitcoin

[yohananaomi]

3 trillion? Are you sure about that? Wtf is wrong with peoples brain that they invest in this shit? Yeah maybe you will profit but only because you got in lucky and got in early. The profits you get are basically stolen from someone else since its a Ponzi. I wish people involved in crypto haloed good projects but greedy people won't because good projects don't promise you all these profits. Its almost like people want to be lied to. They don't want to hear they can make %6 a year. They want to hear to makes 6% a month.

I don't get why people would invest millions of dollars in a scam altcoin when you have decentralized Bitcoin that won't scam you. Are people really this stupid? Someone comes and pitches you a new altcoin that's going to be worth millions and you don't ask who owns it and what's the difference between it and other thousands of shitcoins on this market. You throw money at them without saying a word.

Here have my 100 thousand I want to help your shitcoin

Sometimes it is also difficult to understand how to think of people like this, but indeed the fraud in crypto has led to very alarming. because if people have been given a lot of benefits (a large% of investment) sometimes forget and like enchanted that it is real, so willing to do something that obviously does not make sense and will have a loss. there are many ways that people do to commit fraud because fraudsters only hope that there are people who want to be invited and do not need many people, as long as there are people who want to be invited are their own advantages.