Crypto Live News
author: Nidhi Kolhapur
author: Nidhi Kolhapur
Nidhi Kolhapur ![Right arrow]()
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7 Aug 2024 19:00
Nidhi Kolhapur ![Right arrow]()
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Crypto educator and influencer X’s account warned that “China is dumping ETH.” According to data from lookonchain, 789,533 ETH (equivalent to $2 billion) is being transferred from dormant wallets that had been inactive for 3.3 years. Notably, these funds are coming from Plus Token Ponzi 2. Chinese police seized $4.2 billion worth of cryptocurrencies in the PlusToken Ponzi crackdown in 2020. The post also shared the total amount of various cryptocurrencies seized by Chinese law enforcement. Now, it seems that Chinese authorities are planning to dump their crypto holdings.