EOS Market Update: Cryptocurrency scam PlusToken moved $67 million in EOS to anonymous address

According to the EOSX block browser, the recipient's account with the name jnhgvbkkfdjf was created a few minutes before the transaction. At the moment the funds are still there, and there are no other operations associated with this address.  Over 26 million EOS tokens ($67 million) were transfered to the initial wallet to this, according to Whale Alert.

PlusToken activity usually  has a negative impact on bitcoin and the entire cryptocurrency industry. In March, the organizers of the Ponzi scheme allegedly transferred about 11,000 BTC to cryptocurrency mixers. A few days later, the analytical company OXT Research reported that 37,725 BTCs owned by PlusToken were locked in such services.

Last week, analysts found a connection between PlusToken and a series of Ethereum transactions with unusually high commissions. The Cahinanalysis experts believe that the  scheme may have made an unsuccessful attempt at money laundering. Later it turned out that the transactions were related to another pyramide - Good Cycle, which had been hacked.

Large transactins usually shape price momentum in the cryptocurreny, however, it is still unclear what happened with the coind. If the sceme organizers wanted to cash out this ammount, EOS would take a nose dive.

EOS/USD: Technical picture

However, EOS/USD is changing hands at $2.52 The nineth largest digital asset with the current market value of $2.3 billion has gained over 2.5%  in the recent 24 hours. Meanwhile, the further recovery my be limited by $2.57 (intraday high reinforced by the upper line on 1-hour Bollinger Band. If it is cleared, the sell-off may be extended towards $2.62 (daily SMA50 and the middle line of the daily Bollinger Band).  On the downside, the support is located at $2.50. Once it is cleared, the sell-off may be extended towards the lower boundary of the daily Bollinger Band at $2.41.

EOS/USD daily chart