The organizers of the PlusToken crypto pyramid have laundered over $1.3B in Bitcoins over the past seven months, OXT has reported.
According to analysts, the massive influx of Bitcoins into the market has affected both the growth of Bitcoin and the market in general. However, they claim PlusToken's influence weakened after the organizers of the pyramid sold around 70% of their assets.
OXT experts have highlighted PlusToken still holds a minimum of 37,725 Bitcoins. Of these, 33,872 have already been transferred through mixing services, while the remaining 3,853 BTCs are still in the distribution process.
According to the study, most of the Bitcoins were laundered via popular crypto exchanges such as OKEx and Huobi in spite of their strict KYC procedures.
PlusToken was launched back in 2018 and is considered the largest crypto scam in China, as the organizers of the pyramid stole more than $3B.
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