On May 22, a wallet containing cash from the 2018 ICO hoax became active for the first time in three years after swapping a significant quantity of ETH for USDC across five wallets, according to zachxbt. Wow so throughout the last end of the week the Sparkster wallets from the 2018 ICO scam made its entry after~3 years trading 14,200 ETH for $22.7m USDC across 5 wallets.
Etherscan, one of the most widely used Ethereum blockchain explorers in the business, has yet to flag wallets related with the fake ICO addresses. Other than leaving subsidies untagged, the cash in the previously mentioned wallets is yet not blocked, which permits programmers to move them around.
The Sparkster ICO, which generated $30 million in the ICO and ended in July 2018, allegedly misled investors by promising extraordinarily large returns 300 times their initial investment. Because there was nothing but speculative value behind relatively new tokens or coins, such a marketing tactic was often adopted by cryptocurrency ventures.
Incidentally, zachxbt distributed a screen capture of a remark made on the ICO wallet’s page by an unknown client who is expecting ways to caution scammers about the post made by the on-chain investigator and the chance of their assets being frozen by trades and blockchain security organizations.
Between 2017 and 2018, the cryptocurrency sector was rife with a slew of shady initiatives and teams out to steal money from naive users in exchange for intrinsically worthless tokens.
