No Pain. No Gain.
Now, those holding $GAIN are really in PAIN: Address 0xf3d...58db maliciously minted 5 billion GAIN two hours ago, causing the price to crash by 95%, and then dumped $3.01 million 😵
Who is openly pouring cold water on the thriving Alpha series token? — Let's try to find some useful information from the blockchain.
▶︎ The malicious minting & dumping address was created 11 hours ago.
▶︎ Tracing the source of funds leads to a new address that received ETH from Tornado 13 hours ago, which was exchanged for BNB via Symbiosis.
▶︎ After minting 5 billion tokens at 07:04, they started dumping 22 minutes later, continuously selling for 55 minutes and profiting $3.01 million. They are now transferring profits across chains to Solana / Ethereum / Base / Arbitrum and other networks via deBridge.
▶︎ The operation doesn't seem like something the project team would do; it's too blatant and reckless... It looks like they might have exploited some minting loophole, but we should wait for an official announcement. I believe @BinanceWallet @sisibinance @heyibinance will also get involved in the investigation.
Malicious manipulation address
Source of funds address
Interestingly: The crypto world is never short of bloodthirsty individuals; as soon as this address stopped dumping, someone bought in to bet on a rebound 😂
Update: Funds have started to flow into the tornado, so it will be quite difficult to come back...
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