Alleged Asian Exit Scam to Blame for Market Decline? By Cointelegraph


PlusToken Effect: Alleged Asian Exit Scam to Blame for Market Decline?

In the last week of November, the saga of an alleged crypto Ponzi scheme that has been lingering for more than half a year took a new turn. A hobbyist blockchain researcher reported on Twitter that he’d tracked almost 200,000 BTC that had gone missing over the summer, when several million people invested in PlusToken — a South Korea-based exchange and a high-yield investment program — found themselves unable to withdraw their money.

The researcher suggested that the embezzled funds have been gradually dumped on crypto exchanges, potentially suppressing market price. Here’s what is known about the monumental scheme that has yet to be officially confirmed.

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