This now busted operation ranks nine amongst all ethereum addresses with one million transactions performed in total.
The address in question shows 100,000 transactions were performed in the past five months, but none during the last 20 days as this was shut down in June.
That’s when six people were arrested in China for scamming through Plus Token value reportedly worth $2.9 billion.
This was a plain ponzi in that there were promises of “guaranteed” returns of 6% to 18% a month depending on the “level” of the “affiliate.”
As with most MLM schemes, those affiliates that brought in more people got more “interest” with etherscan showing how this developed:
The scam began on the 30th of May 2018 with it generally not attracting much attention, but it continues to grow for much of that year with a huge jump then in June when almost all of the eth was sent.
That reached the level of 800,000 and has stayed there with not much going in or out of this ponzi now.
It is not clear whether Chinese authorities have control of this address or otherwise. The sum however is fairly small compared to the $3 billion scammed, but it still makes it to top eth holdings.