Huobi Processed 50% of All PlusToken Withdrawals This Month: Report

August 25, 2019 | By | Reply | 24 Readers More


Chinese crypto exchange Huobi has seen the highest number of withdrawals from the alleged crypto Ponzi scheme PlusToken to date, new research says.

Chinese exchanges prevail

New York-based blockchain infrastructure firm Elementus released a study on Aug. 23, claiming that the number of PlusToken withdrawals sent to Huobi exchange has accounted for nearly 50% so far.

As Cointelegraph reported earlier in August, PlusToken apparently began a mass sell-off of Bitcoin (BTC) that may have been to blame for a $400 dip in BTC’s price over a matter of minutes. 

According to the research, PlusToken withdrawals on Huobi amounted to over 4.3 million Ether (ETH) of 9.2 million ETH dispatched. Other popular exchanges for PlusToken withdrawals include another Chinese exchange ZB.com, which received around 8% of withdrawals, as well as South Korean Upbit, Malta-based OKEx and Gate, another…

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