Author: Xianyue Wu
In July of this year, LongHash reported on the news of the famous money running project PlusToken running in the currency circle. At the time, although PlusToken could not be withdrawn, there was still a large amount of digital currency in the chain address that had not been transferred. Among them, on the Ethereum network, 0xf4a2eff88a408ff4c4550148151c33c93442619e and 0xef13a2c29f7a433aff08c60007bc276a64c7bdf5 have two addresses, respectively, leaving about 789,000 and 20,000 ETH. However, after three months of silence, PlusToken's ETH address has moved.
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The address of this transaction is 0xef13a2c29f7a433aff08c60007bc276a64c7bdf5 , where 20,000 ETHs are all transferred out, and LongHash tracks the flow of ETH.
The above picture shows the flow of funds for this ETH transfer. PlusToken initiated a total of 7722 transfer transactions involving 4,592 addresses. Among them, the node in the figure represents the address, and the connection between the nodes represents the transfer transaction. The color of the node indicates the out-degree of the node, that is, the number of times the address initiates the roll-out transaction. The size of the node indicates the number of ETHs that remain in the address. We divide the large-scale transfer of this PlusToken into 4 phases:
In the first stage, at the Ethereum block height of 8858733, the first transfer transaction transferred 20008 ETHs from the 0xef13a2c29f7a433aff08c60007bc276a64c7bdf5 address once, and after 2 transfers, transferred 20,000 ETHs to the address 0x1a29b5713a59e96e0b3a22a0f82cfb75e63de1f2.
In the second phase, ETH began to disperse for the first time. 0x1a29b57 This address has initiated a total of 199 transfer transactions, each of which varies from tens to more than 100 ETHs. The address is the address that initiates the most transactions and the number of transactions (ie, the node has the highest degree of exit). Then, ETH arrives at the new address after a transfer. The red node in the figure is an address with one degree of outbound, which only initiates a roll-out transaction, and almost all of these addresses are only transferred to the transaction. We refer to the red node as the transit address. The transit address accounts for more than 70% of all addresses in the graph.
In the third stage, ETH is once again dispersed. The originating address is the third layer address in the figure, and their node colors are mostly blue or green (corresponding to node egress 3-5), that is, these addresses all initiate 3-5 pen-out transactions. With these two scatters, the ETH of the PlusToken is spread across the 5 cluster addresses.
In the fourth stage, the previously dispersed 5 cluster addresses are relinked together by a large number of relay addresses, and the ETH in the address is transferred. PlusToken passes such a complicated transaction, or attempts to conceal the flow of ETH. ETH eventually flows into the black node in the above picture (the black node has a degree of 0, that is, there is no rollout transaction). There are 237 black addresses, and the balance is mostly between tens and hundreds of ETHs.
We analyzed all 4592 addresses and found that they were all associated with the transaction. Therefore, these 20,000 ETHs have not yet been cashed out.
This is not the first large-scale transfer of funds from PlusToken. Previously, the PlusToken BTC address also appeared similar to a large-scale transfer. They launched a huge amount of chain transactions to split more than 20,000 BTCs into small amounts, trying to bypass the tracking, and finally some BTCs have successfully cashed out. At present, bitcoin and Ethereum networks are already quite congested, and such a large number of meaningless transfers are also a waste of resources.
The transferred ETH only accounts for a small portion of the PlusToken ETH holdings, and nearly 790,000 ETHs in the PlusToken address are not transferred out. LongHash continuously monitors the flow of PlusToken digital currency.