Ethereum Price Sell-Off After PlusToken Transfers 789K ETH?

[TomPluz]

Investors Fear Ethereum Price Sell-Off After PlusToken Transfers 789K ETH

PlusToken recently moved $186 million worth of Ethereum, leading investors to fear a dump in ETH price.

Earlier this week PlusToken, one of the largest scams in the cryptocurrency world, tried to move 789,500 Ether (ETH), but the movement of these stolen funds were temporarily held up by congestion issues within the Ethereum network.

The $186 million transfer came from a known Ethereum address and was later split into 50 different transactions, possibly as an attempt to disguise the activity. Whale Alert first spotted the transactions which have since been processed but little information on the funds’ destination has been reported.

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Once again, a big scam has become a very important factor to shake the second biggest cryptocurrency network. Sadly, the same story materialized due to many scams that affected this growing industry. These days, even educated people can be blindly opening up their digital wallet in the name of greed. This is not the first nor will be the last.