Blockchain analytics firm Bubblemaps has issued a warning regarding the MYSTERY token, citing suspicious on-chain behavior that strongly suggests a fraudulent scheme. The platform, renowned for tracing token distributions, revealed that the token's launch was heavily manipulated through a coordinated network of newly created wallets.
Manipulation Details: New Wallets Control 90% of Supply
According to Bubblemaps, a single address labeled 0x544E withdrew 20 ETH from the exchange Binance and distributed the funds across 90 fresh wallets. These wallets then acquired approximately 90% of the total MYSTERY token supply during its initial offering. Such an extreme concentration of supply is a classic hallmark of pump-and-dump schemes or insider-controlled token launches.
Profit-Taking: Over $100K Sold, 40% Still Held
The monitoring data shows that these associated wallets have already sold tokens worth more than $100,000 on decentralized exchanges. Despite the sales, roughly 40% of the total supply remains under the control of the same cluster, posing a continued sell-off risk. The token price has dropped 10.85% in the last 24 hours, likely exacerbated by the Bubblemaps report.
Risk Advisory and Next Steps
Bubblemaps' findings underscore the importance of on-chain due diligence, especially for low-cap tokens with anonymous teams. Investors holding MYSTERY are advised to exercise extreme caution and monitor the flagged wallet addresses for further distribution activity. The analytics firm has pledged to continue tracking the token and provide updates as new patterns emerge.