Scammers move 12k BTC - dump is comming?

[coolcoinz]

12 thousand bitcoins wouldn't hurt the bitcoin world at all,

Yes, if you look at the charts 20k Bitcoins on Bitstamp were only able to move the price up by 2,5k USD, so 12k dumped on an even bigger exchange with higher daily bolume would maybe create a 1k USD dump. If it triggered some leveraged positions and bots then a 3k flash crash is a possibility, but once humans see it they will see the opportunity, stop the bots or trade against them. Even a 3k flash crash would barely take us to 7k and would be quickly brought back to 8 maybe 9k.
Those guys would have to be stupid or spooked to dump so much money in one day.

[STT]

Nothing wrong with 12k of BTC moving about, I dont see it matters more then their previous holders so long as we keep having a regular balance of sellers and holders and the system keeps circulating then we arent talking about anything too drastic or irregular upset.
  Does the world contain dishonest people for sure, BTC is not under a burden for that and it happens in dollar also;   if the question is this an overwhelming element of BTC then I have to vote its significance is minor not ongoing or building.

Im bearish on BTC price right now but very short term its rising upto about 10500 I think.   We then confirm a previous positive trend as now negative, thats when we got a possible harsh sell more then just the back and forth that is constantly occurring.

  Its rising alot now because we broke something a negative trend or line downwards which I marked on this chart :

[Hypnosis00]

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.

[2double0]

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.

[Swordsoffreedom]

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.

[minairia3]

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.

[bhabygrim]

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.

[matchi2011]

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.

[michellee]

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.

[el kaka22]

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.

[KTChampions]

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.

[adaseb]

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.

[imstillthebest]

 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  .

[KTChampions]

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:

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.

[TheAndy500]

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.

[buwaytress]

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.

[fortunecrypto]

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.

[Taskford]

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.

[FanEagle]

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.

[milewilda]

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!