Trader fears $200m in Ethereum collected by a new crypto Ponzi could cause a “disaster”
BTC $10,211 (-0.8%) • ETH $347 (-1.8%) • XRP $0.24 (-0.7%)
In 2019, one of the biggest narratives in the crypto market was the PlusToken pyramid scheme. For those unaware, PlusToken was a Bitcoin wallet pyramid scheme operating in Asia that managed to garner over $2 billion worth of deposits over the course of half a year.
The scam’s operators attempted to obfuscate the funds they secured when the pyramid collapsed. But, it has been said by analysts and blockchain analytics firm that persistent selling of the coins likely caused the crypto market crash towards the end of 2019. Some, in fact, have said that PlusToken’s rise actually triggered Bitcoin’s and Ethereum’s 2019 rally.
Unfortunately, another large crypto scam is on the scene.
Analysts fear that its collapse could result in another correction in this nascent market.
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