The thieves behind one of the most notorious scams in crypto history seem to be working hard to hide a huge stolen Ethereum (ETH) treasure.
A pseudonymous investigator named after Frank says that the operators of the $ 2.9 billion PlusToken Ponzi scheme have come to life and are recycling their ETH stash through mixers.
“At the moment, the PlusToken mixer has made five jumps and used 4,967 addresses for this. 3,813 of them now have a non-zero balance of 2 to 998 ETH. On average, there are 140 ETHs in these directions right now. These are quite large sums, so we can expect the continuation of the mix. “
The mix makes transactions more anonymous by mixing a user’s crypto assets with a bunch of other currencies, and then sending smaller units to separate wallet destinations. The process is designed to give privacy to legitimate crypto users, but it can also allow bad actors to hide criminal activities.
According to Frank, the ETH linked to the PlusToken scam has already gone through a mixer five times by using almost 5,000 addresses to send smaller units of the coin. He says there are 3,813 addresses that currently store an average of 140 ETH, which means that scammers are trying to move 533,820 ETH worth $ 117.4 million.
The crypto researcher hopes the mix will continue, suggesting that criminals plan to use even more wallets containing a handful of ETH so that they can settle the stash through exchanges without raising suspicions.
