On Wednesday, online reports unveiled that hundreds of Ethereum wallets that had been dormant for over 3 years were moving large amounts of ETH. The wallets were believed to have moved $2 billion worth of ETH linked to a $4 billion crypto scam. Investors worried that another massive dump would affect the market’s recovery. However, further details revealed that the initial ETH amount suspected to be moving was considerably smaller. Related Reading: Solana (SOL) Bounces 30% Amid Market Recovery, Analysts Remain Bullish 3-Year-Old Dormant Ethereum Wallets Awaken On-chain tracking firm Lookonchain reported that hundreds of Ethereum wallets started to move considerable amounts of ETH earlier today. In a now-deleted post, the firm suggested that the wallets, which had been dormant for 3.3 years, possibly moved over 700,000 ETH. Lookonchain tracked the funds back to an address linked to the PlusToken Ponzi Scheme. In 2020, the Chinese police reported seizing 833,083 ETH, now worth around $2.11 billion, as part of the crackdown on the scam crypto trading platform. The now-awaken ETH wallets’ funds came from an address labeled “Plus Token Ponzi 2.” This wallet dispersed 789,533 ETH from ..
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