On-chain sleuth uncovers 43 wallets behind Pump.fun: token launches, pump-and-dumps, the whole operation $BTC $ETH
An on-chain sleuth investigated Pump.fun and uncovered a 43-wallet conspiracy: over 6,855 tokens issued in bulk using a highly coordinated playbook—several wallets buying together, creating fake hype, then dumping and exiting within 3 seconds. Wallets that held on to the proceeds made $1.02 million in USDC through this assembly line.
Put simply, many meme coins on the market aren’t driven by community consensus at all—they’re harvesting tools churned out on an assembly line. Token launches cost next to nothing, prices are pumped through wash trading, and retail investors who rush in are left holding the bag.
Here’s a reminder for everyone trading meme coins: check the distribution of token holders first. If the top few dozen addresses are linked wallets, blacklist the project. If a coin skyrockets hundreds of times over within minutes of launch, it’s probably just a show put on for you. Do you know anyone who’s been burned by one of these 3-second dumps? Share your stories in the comments.
#Meme币 #On-chain data
An on-chain sleuth investigated Pump.fun and uncovered a 43-wallet conspiracy: over 6,855 tokens issued in bulk using a highly coordinated playbook—several wallets buying together, creating fake hype, then dumping and exiting within 3 seconds. Wallets that held on to the proceeds made $1.02 million in USDC through this assembly line.
Put simply, many meme coins on the market aren’t driven by community consensus at all—they’re harvesting tools churned out on an assembly line. Token launches cost next to nothing, prices are pumped through wash trading, and retail investors who rush in are left holding the bag.
Here’s a reminder for everyone trading meme coins: check the distribution of token holders first. If the top few dozen addresses are linked wallets, blacklist the project. If a coin skyrockets hundreds of times over within minutes of launch, it’s probably just a show put on for you. Do you know anyone who’s been burned by one of these 3-second dumps? Share your stories in the comments.
#Meme币 #On-chain data