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Chinese Ponzi scheme PlusToken have over 400 million XRP

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3 hours ago, yxxyun said:

they got about 200K BTC, 760K ETH, 26 million EOS, 500 million XRP and others. 

that's huge amount.

What is going with that now? Are wallets "frozen"? Do they sell? Is there any wallet activity? Are those scammers in prison? 

Thanx

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20 minutes ago, Kiwi said:

What is going with that now? Are wallets "frozen"? Do they sell? Is there any wallet activity? Are those scammers in prison? 

Thanx

Some managers were arrested, but BTC is moving. Don't know who is moving the BTC. 

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19 hours ago, Valhalla_Guy said:

Oh I see, so AML will require that every incoming XRP transfer be crossed checked against the entire ledger history to see if there were any prior interactions (direct or indirect) with the “bad” wallet, before accepting the incoming XRP at the exchange. 

Well perhaps that makes sense, if BTC did not exist. I would simply shift my XRP to BTC before sending to the exchange for cashing out.

Now you see why BTC has real value. #1 It is truly private (same as cash) and #2 You have to actually work to get some without paying. XRP is free for the insiders, and does nothing to protect the identity of the parties.

Get your facts straight. BTC is a public ledger. It is an evidence chain that ceases to be private once a transaction hits a KYC'd address. There is no difference in that aspect between XRP and BTC, other that that it costs less cpu to read the history of an XRP account, and splitting funds over multiple adresses is more expensive.

But it is probably better to let criminals believe the myth that BTC transactions are 'truly private'. So best ignore this message.

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5 hours ago, dik said:

Get your facts straight. BTC is a public ledger. It is an evidence chain that ceases to be private once a transaction hits a KYC'd address. There is no difference in that aspect between XRP and BTC, other that that it costs less cpu to read the history of an XRP account, and splitting funds over multiple adresses is more expensive.

But it is probably better to let criminals believe the myth that BTC transactions are 'truly private'. So best ignore this message.

Hmmm, you have a unique view of how criminals work. Yes the dumb criminals can be discovered, but for the rest of them, the exchange will never be able to tell that the BTC they receive today was actually LTC 1 week earlier, which was ETH the day before it came from an XRP wallet, that interacted with a “bad” XRP wallet 1 month prior.

However it is interesting to consider the fact, that if I had few xrp, in a wallet that has been deemed “bad” (as determined by the awe-powerful Leauge of Justice, better known as “they”) that I would also have the ability to effectively shut down millions of innocent wallets simply by sending each of them 1 drizzle, taking full advantage of the “guilt by association” justice you all believe in.

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16 minutes ago, Valhalla_Guy said:

Hmmm, you have a unique view of how criminals work. Yes the dumb criminals can be discovered, but for the rest of them, the exchange will never be able to tell that the BTC they receive today was actually LTC 1 week earlier, which was ETH the day before it came from an XRP wallet, that interacted with a “bad” XRP wallet 1 month prior.

So instead of adressing my point that BTC is nor at all 'fully private', you add more nonsense.

BTC an exchange receives was BTC yesterday on another private wallet, or on another exchange. Traceable all the way back to malicious transactions.

It can not be privately swapped to another currency, that always happens on an exchange (which can be fined itself for aiding in money laundering)  on which you leave traces of your identity.

Ultimately those traces will lead to your garage with expensive car in it, that you can't explain how you bought it.

Anyway you're too annoying, I have to block you, sorry. You're by far the most annoying person on this entire forum.

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On 8/18/2019 at 4:44 PM, dik said:

So instead of adressing my point that BTC is nor at all 'fully private', you add more nonsense.

BTC an exchange receives was BTC yesterday on another private wallet, or on another exchange. Traceable all the way back to malicious transactions.

It can not be privately swapped to another currency, that always happens on an exchange (which can be fined itself for aiding in money laundering)  on which you leave traces of your identity.

Ultimately those traces will lead to your garage with expensive car in it, that you can't explain how you bought it.

Anyway you're too annoying, I have to block you, sorry. You're by far the most annoying person on this entire forum.

Let’s block everyone we disagree with! :)

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On 8/19/2019 at 12:07 AM, Valhalla_Guy said:

I would also have the ability to effectively shut down millions of innocent wallets simply by sending each of them 1 drizzle, taking full advantage of the “guilt by association” justice you all believe in.

I think the most important part of the above quote is that my nomenclature is catching on...   wooohoo!

On 11/1/2018 at 1:00 PM, Tinyaccount said:

I can’t wait till we all know the proper names for Drop multiples...

100 Drops make a Drizzle.

100 Drizzles per Squirt.

 100 Squirts per Zerp.

:)

 

 

Sometimes I think I’m a genius.  

Then I’m proven horribly wrong....    :) 

 

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4 hours ago, Tinyaccount said:

I think the most important part of the above quote is that my nomenclature is catching on...   wooohoo!

 

Good job. I must say that “Drizzle” is very intuitive, because I thought I just made it up during my last post. I guess it was embedded from your prior suggestions.

I tend to only remember what I learn, not always where and when.

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On 8/16/2019 at 10:00 AM, yxxyun said:

From Chinese media,this is their XRP address:rNfRpqwq27b2xCBSNf7BzuZrmmbkc5bZr2

They just sent their 485 million XRP to this new account: r3C9BXmTtiDLhxH76cWP6vbyDEkbtxANzo

https://xrpscan.com/tx/7F58C699E0BD8AA6BFACFE9FA6BBBA611004AA070AF37ADEA02B7EF65FC170DE

https://xrpscan.com/account/r3C9BXmTtiDLhxH76cWP6vbyDEkbtxANzo

God forbid if these 485 million XRP will be sent to big crypto exchanges next and dumped all at once. This is another liability of owning XRP. I have no idea who controls this account and what are their plans. Is it Chinese authorities or the scammers. I dunno.

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15 hours ago, hallwaymonitor said:

I have no idea who controls this account and what are their plans. Is it Chinese authorities or the scammers. I dunno.

It's very worrying.

Option 1 : the scammers were busted, some got away, one or more of them had the key to the account and has now moved the xrp to a safe account that only they have the key to. These will eventually be offloaded and it won't be stopped before transfers to exchanges happen - and then it's very hard to control as we've seen (for example) in the gatehub incident.

Option 2 : the scammers were busted, the authorities got the key and have moved the xrp to a new safe account that only they have the key to. We're slightly better off, but the xrp will still be sold en masse eventually, hopefully a long time in the future. If the authorities had control, I would have expected them to use a multisign account (the sum involved is so huge that trusting any one person/group/dept with the key is a problem).

Option 1 seems more probable to me. Very worrying.

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6 hours ago, jbjnr said:

Option 1 seems more probable to me. Very worrying.

Agreed. Also the thread by Dovey Wan supports the option 1.

Takeaways:

  • Scammers managed to collect BTC, ETH, EOS & XRP in total worth of 3 billion USD according to the police report.
  • There are still some unknown accounts that contains the scammed funds.
  • Police does not seem to have control to any of the stolen cryptocurrency funds.
  • The scammers started to sell their bags around early July 2019 (how conveniently the bull market took nosedive during that time)
  • Based on their previous BTC selling modus operandi they will not likely dump the 480 million XRP account all at once. Instead, they will send small batches to exchanges and then sell in order to get better price.

 

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