Confiscated PlusToken assets "moved".

In one day, October 9-10, 2024, 7,000 ETH were transferred from wallets storing confiscated crypto assets in the PlusToken pyramid case to various exchanges. This was stated by an OXT Research analyst under the pseudonym ErgoBTC.

This pyramid arose in early 2018. The project was promoted mainly in Asia. Its essence was that users exchanged fiat for various crypto assets, which were then converted into PLUS tokens.

It was assumed that participants would receive a reward for additional investments and referrals. By 2019, the project had accumulated about 200,000 BTC, and from 789,000 ETH to 830,000 ETH, according to various sources.

The project was closed by the Chinese authorities, and its assets were confiscated. This makes the Chinese government one of the largest Bitcoin hodlers despite the complete ban on crypto assets.

In total, China still has about 535,000 ETH left in its account.