CryptoQuant Founder: China may have sold 194,000 BTC seized from the PlusToken scam in 2019

According to an analysis by Ki Young Ju, founder of CryptoQuant, China may have sold the 194,000 Bitcoins seized from the PlusToken scam in 2019. These Bitcoins were announced by the Chinese government as "transferred to the national treasury," but it was not clear whether they had been sold.

Ki Young Ju pointed out that these Bitcoins flowed into several CEXs after being mixed in 2019. If they were not sold, there would be no point in using mixers and multiple exchanges. He also stated that a regime implementing censorship is less likely to hold assets resistant to censorship.