On Oct. 18, on-chain sleuth Specter amplified a warning to the crypto community, saying the InfoFi project BILL may be a scam. The alert came alongside a set of token flow figures tied to Billion (BILL), whose price is down about 97% from its all-time high. Over the past two months, 17 addresses that received tokens from wallets linked to the team deposited roughly 988 million BILL to trading platforms. This week alone, another 360 million BILL was sent to exchanges from separate deposit addresses, with the tokens traced back to the project team’s multisig wallet. In total, around 1.35 billion BILL has moved onto exchanges over the last two months, equal to about 13.6% of the token’s total supply and worth an estimated $15 million. BlockBeats also noted that the project team had previously raised about $30 million from institutions including Coinbase Ventures and Polychain Capital.
BlockBeats reported on Oct. 18 that on-chain investigator Specter reposted a warning to the community saying the InfoFi project BILL appears to be a possible scam.
According to the figures cited, Billion (BILL) has fallen about 97% from its historical peak. Over the past two months, 17 addresses that received tokens from wallets linked to the team deposited about 988 million BILL to trading platforms.
This week alone, another 360 million BILL was deposited to exchanges through separate deposit addresses. Those tokens were traced to the project team’s multisig wallet. In total, about 1.35 billion BILL has flowed to exchanges over the past two months, representing roughly 13.6% of total supply and carrying an estimated value of about $15 million.
BlockBeats added that the project team had previously raised about $30 million from institutions including Coinbase Ventures and Polychain Capital.
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