Bubblemaps has flagged suspected manipulation of CHUMP, a Trump-themed meme token on Robinhood Chain. The monitoring firm said more than 75 brand-new wallets with no prior on-chain activity received SOL in a tightly packed window around Aug 8. Those wallets, credited with similar amounts, then accumulated roughly 80% of CHUMP's total supply, some buying within minutes of one another. According to Bubblemaps, the token's price went on to surge 66-fold. The firm also said the cluster attempted to obscure the origin of funds by routing tokens through another set of new wallets that sold via Uniswap. All wallets linked to the activity had initially been funded through Relay about 25 days earlier. Control of the token remains unclear. Bubblemaps said the matching funding patterns and operational traits suggest a single entity was behind the cluster, and urged users to exercise caution with such meme coins.
Bubblemaps has flagged suspected market manipulation around CHUMP, a Trump-pun-themed meme coin on Robinhood Chain. Fresh wallets with no transaction history accumulated about 80% of the token's supply in early August, just before its price jumped 66 times, according to the firm's monitoring.
More than 75 previously inactive wallets received similar amounts of SOL in a tightly packed window around Aug 8, Bubblemaps said. They then bought CHUMP in quick succession, some making purchases within minutes of one another. Combined, the wallets accounted for roughly 80% of the total supply. Shortly afterward, the price surged 66-fold.
The firm added that the cluster tried to hide its funding trail by pushing tokens through a separate set of brand-new wallets that sold on Uniswap. All wallets involved were initially funded via Relay about 25 days earlier, Bubblemaps noted.
Who controls CHUMP remains unknown. Bubblemaps told users to stay alert, saying the uniformity in funding patterns and on-chain behavior points to one entity behind the cluster.
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