<p>Over 12,000 bitcoins (currently worth over $117 million), associated with alleged crypto Ponzi scheme PlusToken, have just moved to two new blockchain addresses.</p> <p>The two addresses are <a href="https://blockchair.com/bitcoin/address/19bMszbozeHyjANgSyM9iyjsZU1sKsR6uM">here</a> and <a href="https://blockchair.com/bitcoin/address/1LT4ae84S8tCsZtrLCcz3Z38DGn1LnZ9op">here</a>, Chiachih Wu, vice president of research at Chinese blockchain security firm PeckShield, <a href="https://twitter.com/chiachih_wu/status/1227150566041649153">tweeted</a> today. The first address contains over 11,999 bitcoins and the second address contains over 424 bitcoins.<br /> <br /> Wu said the new addresses look like "cold wallets." Cold storage refers to keeping private keys on a hardware device, disconnected from the internet.</p> <p>The PlusToken scheme, suspected to be one of the largest cryptocurrency exit scams to date, has <a href="https://www.theblockcrypto.com/post/36166/an-alleged-cryptocurrency-exit-scam-swindled-2-9-billion-but-main-suspects-still-on-the-run">swindled</a> nearly $2.9 billion worth of users’ funds, according to estimations from blockchain analytics firm CipherTrace. PlusToken claimed to have around 4 million users.</p> <p>Six suspects affiliated with PlusToken have been arrested, Chinese police officials confirmed to The Block last August, although main operators of the scheme are still on the run.</p> <p>One notable finding in PlusToken research, by blockchain analytics firms such as Elementus and Chainalysis, has been crypto exchange Huobi's involvement in the scheme. For instance, Elementus <a href="https://www.theblockcrypto.com/linked/37470/users-of-alleged-crypto-scam-plustoken-heavily-favored-huobi-exchange-for-withdrawals">found</a> that almost 50% of all PlusToken withdrawals were sent to Huobi, indicating a “strong bias” toward the Chinese cryptocurrency exchange.</p> <p>Chainalysis, on the other hand, <a href="https://www.theblockresearch.com/huobis-role-in-enabling-plustoken-51084">found</a> that “nearly all of the funds” were moved to the addresses of over-the-counter (OTC) brokers on Huobi with lax know-your-customer (KYC) requirements.</p>