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Ethereum Price Drops As Chinese Govt. Sells 7,000 ETH Seized from PlusToken Scam

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Chinese wallets linked to PlusToken scam have been moving funds in recent times after staying dormant for nearly three years since 2021 .

Chinese government has reportedly moved 7,000 ETHs worth $16.7 million seized from PlusToken .

The latest development has sparked speculations that the Chinese government would be ultimately selling the rest of the 542,000ETH, worth over $1.3 billion , seized from the PlusToken Scam .

Currently the ETH price is already trading 2% down slipping under $2,400 levels.