Analysts fear drop in airtime after PlusToken transfer of 789 thousand ETH

Analysts fear drop in airtime after PlusToken transfer of 789 thousand ETH

Chainalysis analysts claim that the recent move of the broadcast by $ 186 million from the address of the PlusToken scam project represents a real threat to the price of ETH if such a volume is listed on the exchange.

After the hiding scammers sent fifty-eight separate transactions of 789,500 ETH to unknown addresses, investors began to fear that the attackers were planning to disguise the movement of assets for the purpose of their subsequent sale. Although the researchers know the recipient addresses, nothing is known about them, like the final destination.

According to Kim Grauer, head of research at Chainalysis, the PlusToken sale could be a real threat to the cryptocurrency market, since such a large influx of ether to the exchanges will increase volatility and put pressure on the exchange rate. Trading bots can quickly react to these changes, and along the chain this will lead to a massive liquidation of positions with high margins in the derivatives markets.

The market usually quickly bounces back after such events, but amid the recent downturn, the recovery process may drag on.

Previously stolen PlusToken cryptocurrency came true through the Huobi and Okex platforms, but recently, exchanges have updated their AML / CFT standards and implemented network monitoring tools. Since further actions of fraudsters are unknown, traders will closely monitor the market.

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Analysts fear drop in airtime after PlusToken transfer of 789 thousand ETH

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