$3B Ponzi Scheme is Dumping BTC by the Hundreds

[bbc.reporter]

@exstasie. No, she might only have gotten very excited when she was beginning to suspect something, however, Blockchain analytics might not be for her hehehe.

[Herbert2020]

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!

[ololajulo]

I had to help a brother who had been involved in 3 ponzi scam with bitcoin last month, my understanding is that ponzi cant never profit in the long run. Bitcoin makes it even more dangerous due to the anonymity involve and none of such organizers loses, in most cases they cant be prosecuted. The problem is some people wont ever learn, just like in gambling, such risk is fun. IMO the wrong opinion that ponzi brings to bitcoin is getting corrected and people are making better use of it than ponzi

[darewaller]

It would have to be small though, like when it reaches 3 billion dollars you start to question how did they convince that many people or at least for that amount of money.

I know there has been bigger ponzi schemes in the world specially there was a case in wall street where a big known dude scammed 50+ billion dollars with a ponzi scheme however at the same time he got caught doing it not because he ran out of money to do it but because his filing reports didn't add up properly. Hell even Al Capone didn't go to jail for mafia related stuff, he did for tax evasion. Hence, stealing 3 billion dollars legaly is very difficult, how could you file the tax reports or how do you showcase people on document that you are a good company and not a scammer. Its very difficult.

[STT]

my understanding is that ponzi cant never profit in the long run

The profit cant result from a negative sum game.     Options traders accept they might lose everything and that market overall returns less then all values input hence negative sum.   It has a utility to society so it continues but ponzi relies on deception and with no use.   
    Its called a pyramid scheme quite often because the many feed the few at the top, the originators of the scheme benefit in the short term so long as new entrants are being bought into the economy of the scheme with the idea they are investing in something.

Many accuse BTC overall of being a scheme of this sort.   There is utility to BTC that I believe would not exist to some people if it were not available and being something unique goes a long way to qualifying the existence of a product with demand.      People are willing to pay up front for the use of BTC, I think thats the main difference where as with ponzi they are led to believe they dont have to do anything but contribute and will see all or more money returned.   Quite often nothing is returned.      So long as people accept there is no guarantee or innate interest or business growth with BTC its not a valid criticism.

[SirLancelot]

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!

This news is seriously spreading like fire and I even read somewhere where it was categorically stated in there that the amount has been moved completely out of the system, and here we are, I did not see the effect of that massive dumping, even though it was claimed that they were moving it bit by bit.

It is confusing tough because when you see the rate bitcoin dumps sometimes, you will agree that someone somewhere is purposely manipulating the market with big amount of money, look at yesterday or so, the market suddenly plunge from $10600 to $10200 within a second, and how will there be a coordinated dumping if not because it was being dumped at once. The reason why I don’t want to completely believe the news is that there were claims that it has the involvement of china.

[maxreish]

This is a serious case. Investors were scammed because they were promised of high investor's returns and profits. The reality is that, they are easily been hooked by those promises thus giving their whole trust with unsure projects because their main goal is to get what they have promised for-high returns of money.

And yeah, because of this ponzi scheme the crypto market is slightly suffering making this as a big issues in the internet and having this as a bad news will definitely dump current price of bitcoin.

[Bitcoin Smith]

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.

[vintages]

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.

[Reid]

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.

[Slow death]

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

[el kaka22]

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.

[crzy]

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.

[Jating]

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 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.

[bbc.reporter]

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.

[irsykes]

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.

[Wilhelm]

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

[JohnBitCo]

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. 

[Wilhelm]

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. 

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...

[bbc.reporter]

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  
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.