🍉 Sun's hot wallet exposed: a frenzied outflow over the past 48 hours $WLFI?
In addition to being officially blacklisted, Sun's account @sunyuchentron has also been implicated. It's suspected that his HTX exchange, using a 20% WLFI interest rate to attract users to lock up their funds, with the intention of using the locked funds to transfer to other exchanges and crash the market.
📊 The following image shows the transfer history of the HTX hot wallet (0xa03), which is quite impressive:
- In just 48 hours, single transactions of millions to tens of millions of coins $WLFI continuously flowed into exchanges like Binance, OKX, Gate, Bitget, and Bithumb.
- The largest transaction was a staggering 50 million coins $WLFI (worth tens of millions of US dollars).
- The transfer intervals were extremely short, with multiple transactions completed within a few hours. Seeing this on-chain data, some might ask:
1. Could the nearly hourly outflow of funds simply be a hot wallet rebalancing?
2. Is the transfer not being made to a single exchange but rather distributed across multiple platforms to mitigate price volatility?
3. With tens of millions of dollars transferred out over two days, would a sell-off significantly pressure market liquidity?
However, Sun responded that the address had only made a few test deposits to exchanges, the amounts were very low, and the address's operations were dispersed, with no buying or selling activity, resulting in zero market impact.
In short, everyone can enjoy the melons, but you're responsible for your own positions.
