Quote from: Vishnu.Reang on December 19, 2019, 01:30:20 PM

I am not sure about this. According to the media reports, the dump by the scammers started a few weeks back. But when I check the charts, I can see that Bitcoin is up by around 6%. Some of the other cryptocurrencies have also gained value. From what we know, the Plus Token scam involved the following amounts:

180,000 BTC
6,400,000 ETH
111,000 USDT
53 OMG

This is a partial/incomplete list, but you can see that BTC is among the stolen funds. So I am really surprised with the Bitcoin rally today.

These numbers are really mind-blowing. 6.4 million ETH represents close to 6% of the circulating supply. And we are talking about a scenario where 6% of all the coins were stolen in just one scam. How can the cryptocurrency investors be this much careless or stupid (or both)? After all the scams we had in 2018, these investors were still stupid enough to pour so much money in to this pyramid scheme? BTW, the Plus Token scam involved other cryptocurrencies such as EOS as well, which are not listed in the post above.

The latest news is that the scammers are using exchanges such as Huobi to liquidate their booty. For now, they haven't touched the BTC wallets. They are cashing out the stolen ETH, at a rate of around 10,000 ETH per day.