The organizers of the PlusToken pyramid withdrew funds mainly to the Huobi

Researchers at the analytic firm Elementus concluded that the funds raised by PlusToken went mostly to the Huobi Singapore exchange.

According to analysts, almost 50% of PlusToken’s funds came to this exchange:

As can be seen from the data in the table, in somewhat smaller amounts, funds went to other Asian sites – ZB.com, Upbit, OKEx and Gate.io. According to representatives of Elementus, the question remains why scammers chose to withdraw cryptocurrency mainly on Huobi.

According to researchers, PlusToken collected 10 million ETH (almost $ 2 billion at the current exchange rate) from more than 800 thousand participants in the Ponzi scheme. In addition, the pyramid was quite active in raising funds in Bitcoin, XRP and EOS.

Thus, being the largest pyramid in Chinese history, PlusToken “by a large margin” surpasses fraudulent projects such as BitConnect and OneCoin in its scale.

Earlier, blockchain company CipherTrace estimated the damage to investors from PlusToken at approximately $ 2.9 billion.

Earlier, BlockchainJournal reported that the Chinese police detained six suspected of creating the PlusToken pyramid.

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