On-chain sleuth Specter amplified a warning on X that InfoFi project Billion, whose token trades as BILL, may be a scam. The alert pointed to heavy exchange inflows over the past two months and a steep drawdown from the token’s peak. According to the monitoring data cited in the post, 17 wallets that had received BILL from team-linked addresses deposited about 988 million tokens to Bybit during that period. In addition, one separate deposit address sent another 360 million BILL to Bybit this week, with the tokens said to have originated from the project team’s multisig wallet. In total, roughly 1.35 billion BILL, or about 13.6% of the token’s total supply, was reported to have flowed into Bybit over two months, with an estimated value of around $15 million. The report also said the BILL team had previously raised $30 million from venture capital firms. Specter described the project as a scam, though the allegations tied to wallet flows and the project’s nature have not been independently verified.
Odaily reported that on-chain sleuth Specter reposted a warning on X saying the InfoFi project Billion, whose token is BILL, may be a scam.
BILL is down about 97% from its all-time high, according to the report. Monitoring data cited in the post said that over the past two months, 17 wallets that received tokens from team-linked wallets deposited about 988 million BILL into Bybit.
This week alone, a separate deposit address sent another 360 million BILL to Bybit. Those tokens were said to have come from the project team’s multisig wallet.
In total, about 1.35 billion BILL flowed into Bybit over the past two months, equal to roughly 13.6% of the token’s total supply. The estimated value was put at around $15 million.
The report also said the BILL team had previously raised $30 million from venture capital firms. Specter called the project a scam, but the allegations related to the wallet movements and the nature of the project still require further verification.
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