FARTCOIN surged then plummeted 26% in an instant: On-chain long whale liquidated over 38.88 million, suspected to be from the same trading team that caused the XPL flash crash.

According to ME News, on April 9th ​​(UTC+8), monitoring by Coinglass and Hyperinsight showed that FARTCOIN, which had been gradually rising since April 6th, experienced a brief surge of over 27% in the early hours of today, accumulating a 57% increase over the past three days, reaching a high of $0.252. However, at 7:00 AM today, the price suddenly plummeted by over 20% within 5 minutes, followed by continuous declines, accumulating a drop of over 26%, falling to a low below $0.18, erasing most of the recent gains. On-chain monitoring revealed that the address used for this manipulation closely matched the team that previously manipulated XPL, causing a 40% flash crash after a surge, both pointing to addresses (0xBc1D) and (0x3dB). The previous flash crash occurred on the morning of April 3rd, and shortly afterward, this team began accumulating FARTCOIN. Their tactics were identical to those used on XPL that day: before the price surge, funds were deposited into Hyperliquid through multiple addresses to open high-leverage long positions in the token; after substantial floating profits, all margin was withdrawn, pushing the liquidation line to the brink of liquidation; subsequently, they seemingly coordinated with other platforms to simultaneously dump their holdings in the spot market, causing a sharp drop in both spot and futures prices. Specifically, at 7:00 AM, the manipulators simultaneously withdrew funds from six addresses to the same liquidation price, resulting in a concentrated liquidation around $0.22, with a single batch of liquidations reaching $22.83 million, directly triggering a price flash crash. During this surge, whale and manipulator addresses (holding over one million dollars) that followed the trend suffered a total liquidation of $38.88 million. After the flash crash, addresses 0x5e1 and 0x71c opened high-leverage long positions again within approximately one hour, setting extremely narrow liquidation lines; these were subsequently liquidated again at 7:52 AM, causing the price to fall further. The funds from multiple addresses can all be traced back to address 0xBc1D. Funds source address: 0xBc1D9760bd6ca468CA9fB5Ff2CFbEAC35d86c9730x3dBE077e7986657E95e1CC50089f17a5a4AF0AaE (Source: ME)