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加密脉动-Crypto Pulse
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PIPPIN Shrouded in Dark Clouds
$PIPPIN
1. Event Overview
On December 2, 2025, the blockchain analysis platform Bubblemaps exposed suspected insider manipulation of PIPPIN tokens (a meme coin on the Solana chain) on the X platform. As of December 3, this incident continues to evolve, with no response or clarification from the team.
The report shows that suspected insiders control 50% of the total supply through associated wallets, valued at approximately $120 million.
Specifically, 50 highly correlated wallets obtained similar SOL funds from the HTX exchange within a short period (with no prior on-chain activity), collectively purchasing PIPPIN tokens worth $19 million; additionally, 26 addresses withdrew tokens worth $96 million from the Gate exchange over the past two months, accounting for 44% of the total supply, with withdrawal peaks concentrated on October 24 and November 23. These wallets are mostly addresses with 'fresh' injected funds, closely matching the recent price pump.
1. Event Overview
On December 2, 2025, the blockchain analysis platform Bubblemaps exposed suspected insider manipulation of PIPPIN tokens (a meme coin on the Solana chain) on the X platform. As of December 3, this incident continues to evolve, with no response or clarification from the team.
The report shows that suspected insiders control 50% of the total supply through associated wallets, valued at approximately $120 million.
Specifically, 50 highly correlated wallets obtained similar SOL funds from the HTX exchange within a short period (with no prior on-chain activity), collectively purchasing PIPPIN tokens worth $19 million; additionally, 26 addresses withdrew tokens worth $96 million from the Gate exchange over the past two months, accounting for 44% of the total supply, with withdrawal peaks concentrated on October 24 and November 23. These wallets are mostly addresses with 'fresh' injected funds, closely matching the recent price pump.
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