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yxxyun

Chinese Ponzi scheme PlusToken have over 400 million XRP

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On 10/21/2019 at 6:51 PM, yxxyun said:

These XRP continue moving out

https://xrpscan.com/account/r3C9BXmTtiDLhxH76cWP6vbyDEkbtxANzo

send 50 million XRP to

https://xrpscan.com/account/rhiRLuhwSP2XE2mDct2iFxRTmBfAkDCidJ

send 10 million XRP to 

https://xrpscan.com/account/rNVoFzoUR86cxYVwwGBTFfKEv1FMYMyNct

then split to small account.

Maybe they start selling 

 

 

They sent from those accounts to the new accounts over and over as if trying to cover their tracks. I drilled down from account to account like 10+ times until I reached out the end. I managed to find only two accounts in below by doing this manually. This is less than 1 million XRP. There are (and probably will be) several other similar accounts. I have a bad feeling about these XRP funds based on the effort and planning that they have conducted to transfer these XRPs multiple times.

~450k XRP here at the moment:

https://xrpscan.com/account/rBPqy3Mresu8SuBseMkZcV5BwAYB9G278S

~500k XRP here at the moment:

https://xrpscan.com/account/r3YsqcHrRfRYs1i7uw2WiBUAqMQu34M1ni

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On 10/24/2019 at 4:55 PM, hallwaymonitor said:

UPDATE:

They transferred ~450k XRP from rBPqy3Mresu8SuBseMkZcV5BwAYB9G278S to here: https://xrpscan.com/account/rDz4iQA2abCkQZv9rtE7qLSr3VTtbXZZsN

They transferred ~500k XRP from r3YsqcHrRfRYs1i7uw2WiBUAqMQu34M1ni to here: https://xrpscan.com/account/rE3CLiCLnu1Vr1c8Ux63zyghegWxq1z4o

Also the accounts in below seems to be involved:

This account sent 100k XRP to OKEx exchange. If we assume they sold these 100k XRPs then there is "only" about 484,675,570 XRPs left to be sold. :bad:

https://xrpscan.com/tx/A4EB619217D7B1946647353E0D0B8DA82604B9028CC72771947A3A2E34FC4EA4

https://xrpscan.com/account/rfqyxmvU4HSSag3kdLrKY65P8eNGwjzKhu

~420k XRP here at the moment:

https://xrpscan.com/account/reLaS7S4e8cndQxgWZ5ANAT7sY6EFzY2U

Edited by hallwaymonitor

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46 minutes ago, hallwaymonitor said:

UPDATE:

They transferred ~450k XRP from rBPqy3Mresu8SuBseMkZcV5BwAYB9G278S to here: https://xrpscan.com/account/rDz4iQA2abCkQZv9rtE7qLSr3VTtbXZZsN

They transferred ~500k XRP from r3YsqcHrRfRYs1i7uw2WiBUAqMQu34M1ni to here: https://xrpscan.com/account/rE3CLiCLnu1Vr1c8Ux63zyghegWxq1z4o

Also the accounts in below seems to be involved:

This account sent 100k XRP to OKEx exchange. If we assume they sold these 100k XRPs then there is "only" about 484,675,570 XRPs left to be sold. :bad:

https://xrpscan.com/tx/A4EB619217D7B1946647353E0D0B8DA82604B9028CC72771947A3A2E34FC4EA4

https://xrpscan.com/account/rfqyxmvU4HSSag3kdLrKY65P8eNGwjzKhu

~420k XRP here at the moment:

https://xrpscan.com/account/reLaS7S4e8cndQxgWZ5ANAT7sY6EFzY2U

really bad news. 

maybe @Silkjaer can draw a detail connection of these accounts. 

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13 hours ago, codiusrex said:

Wouldn’t shutting down those accounts be a demonstration of the security on XRPL?

 

7 hours ago, Tinyaccount said:

How do you mean?   There is no mechanism available or desired to do that.

but possible to freeze non-xrp issued currencies if I read this correctly?

image.thumb.png.8baa8c076fb098915260dffe3fd3b507.png

 

https://xrpl.org/freezes.html

 

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2 hours ago, fiik said:

but possible to freeze non-xrp issued currencies if I read this correctly?

But CodiusRex was calling for the shutting down of an account.  That’s a far different thing (indeed an impossible thing) than a gateway freeze of an issued currency.

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7 minutes ago, fiik said:

^ was aware what C Rex was on about ( I can b vague at ti...) 

but in theory they could freeze say, US dollars held? (or Mexican pesos or any fiat)

only the issuer can freeze its issued currency,  not work in this case,  plustoken only hold XRP,  didn't hold issued currency on XRPL.

 

Edited by yxxyun

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17 hours ago, Spartaksus said:

A 200-Year-Old Idea Offers a New Way to Trace Stolen Bitcoins

Cambridge researchers point to an 1816 precedent that could fundamentally change how "dirty" Bitcoins are tracked.

https://www.wired.com/story/bitcoin-blockchain-fifo-dirty-coins/

Thanks for sharing. Here is the original source of the article for those that have paywall from Wired site.

https://www.cl.cam.ac.uk/~rja14/Papers/making-bitcoin-legal.pdf

They say that XRPs are fungible (and they are) but you can still unravel each XRP coin to the genesis ledger. Oh, the first 30k ledgers are messed up but you get the idea. Manually this task would be time-consuming and hence new software would be ideal.

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25 minutes ago, hallwaymonitor said:

Thanks for sharing. Here is the original source of the article for those that have paywall from Wired site.

https://www.cl.cam.ac.uk/~rja14/Papers/making-bitcoin-legal.pdf

They say that XRPs are fungible (and they are) but you can still unravel each XRP coin to the genesis ledger. Oh, the first 30k ledgers are messed up but you get the idea. Manually this task would be time-consuming and hence new software would be ideal.

Yes and they actually were talking about BTC,   but it applies to other coins too.  In the case of BTC particularly the percentage of coins sullied by involvement in crime is unfortunately higher than desirable.

But ignoring the degree of staining...  this is a very bad idea to pursue.

Imagine that XRP has become the standard and is used in retail and wholesale payments.  Say a scammer steals XRP by the ‘send me ten and I will send you a hundred’ scheme.   At some later point law enforcement catches this lowlife and they discover that $1000 worth of XRP was spent at the pub you work at.  The publican paid you in XRP because you desired that (relatives overseas? Smart money on the long term rise of XRP price?).

Now along comes the law enforcement usage of FIFO wrapped into smart software and they discover that your wage was entirely the proceeds of crime.  They demand the proceeds of crime back.  Even if the publican makes you good afterwards he is out by a thousand.  A myriad of messier and worse examples can be found.

A bad idea....  it’s the same as if any cash note you hold that was ever involved in crime can be taken back off you.  It’s all reasonable in a legal sense since it actually IS the proceeds of crime.  But if this were pursued it would be the law being an ass.

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