Business: Bitcoin lost billions of dollars worth of valuation within a 30-minutes timeframe as a Chinese cryptocurrency scammer allegedly liquidated its steal via over-the-counter markets. The initial sell-off by PlusToken caused a domino effect, causing mass liquidations.



PlusToken, a fraud scheme that duped investors of more than $2bn, dumped huge bitcoin stockpiles

from its anonymous accounts, according to Chainalysis. The New York-based blockchain consultancy cited an internal investigation that showed PlusToken scammers on a systematic crypto liquidation spree. Some of them have been actively selling bitcoin since June – right after the cryptocurrency established a year-to-date high of circa $14,000.

It was the same period when the Chinese authorities nabbed people suspected to have been involved with the PlusToken scam.
Read more >> http://www.9japuse.com/business-bitcoin-lost-billions-of-dollars-worth-of-valuation-within/