ChainCatcher reported that, according to monitoring by on-chain analyst Yu Jin, a suspected SIREN control address has continued to reduce its holdings on a large scale over the past 14 hours. The address has sold approximately 201 million SIREN in total and cashed out about 27.7 million USDT. The disclosed information shows that the selling activity took place within a relatively short time window and involved a large token amount as well as a sizable USDT proceeds figure.
Most Proceeds Moved to Centralized Exchanges
Yu Jin’s monitoring also showed that most of the funds obtained from the sell-off have already been transferred to centralized exchanges. Centralized exchanges are trading venues operated by platforms that provide order matching, account custody and buying or selling access. Transfers into such venues are recorded on-chain as address movements. The report did not include the names of the receiving exchanges, specific transaction-by-transaction details or the destination of any remaining funds.
As of the publication of the ChainCatcher newsflash, the available information is limited to several key points: the suspected control address, the 14-hour selling period, the sale of about 201 million SIREN, the cash-out amount of roughly 27.7 million USDT, and the transfer of most proceeds to centralized exchanges. The data cited in the report came from on-chain analyst Yu Jin’s monitoring.