XRPL Monitor detects transaction of nearly $30M by Plus Token scam and other transactions up to $71.5M XRP
XRPL Monitor has detected nearly 30 million XRP transferred by the Plus Token crypto scam in the past one hour, along with other transactions that equal up to 71.5 million of Ripple’s XRP.
XRP is known as a Real-Time Gross Settlement System which is a ‘currency exchange and remittance network’. The currency traded is known as XRP and is immediately transferred. XRP can be exchanged for almost all other currencies. XRP is the fastest & most scalable digital asset, enabling real-time global payments anywhere in the world. XRP is most popular with banks and financial institutions though the XRP token isn’t necessarily required for each and every transaction.
A fraud has been uncovered through the XRPL Monitor as it detected the founders of the biggest Bitcoin scam, Plus Token, in China, moving their stolen riches in the XRP, which is the fourth most popular coin.
Plus Token crypto scam
29.5 million XRP was transferred by Plus Token crypto scam participants. This was detected by the XRPL Monitor and the net worth equals $5,446,333. The senders moved the money through three consecutive transactions in a stream of nine crypto transfers. As a result of which 71.5 million XRP was moved.
According to Bithomp, which is the analytics website, six of these transactions were made by unknown users and three were labeled as ‘fraud alert’ after being connected to Plus Token.
Other recent Plus Token frauds
Before this, XRPL Monitor reported that nearly 285 million XRP had been moved from Plus Token addresses, making it a total of $53.8 million.
This scam closed in 2019 but before this, the fraudsters were successful in cheating the numerous victims and stealing nearly $2.9 billion in Bitcoin.