Bubblemaps | Crypto

Bubblemaps shared blockchain data indicating that team-related wallets had purchased 30% of the token supply, but Edel’s co-founder said the acquisition was part of its token rollout plans. Concerns are mounting over unusual activity surrounding the token launch of Edel Finance, a lending protocol focused on tokenized stocks and real-world assets (RWAs). Blockchain analytics platform Bubblemaps claimed in a Tuesday X post that a cluster of about 160 wallets accumulated 30% of the EDEL token supply, worth $11 million, during the launch earlier this month. The platform alleged the wallets were linked and funded in a coordinated fashion immediately before trading opened. “Edel Finance sniped 30% of $EDEL. Then tried to hide it behind a maze of wallets and liquidity positions," said Bubblemaps. “Just hours before $EDEL launched, ~60 wallets were funded from Binance [...] Together, they got 30% of the supply – now worth $11M.” Read more

Binance integrates Bubblemaps’ blockchain data tools into its Web3 Wallet, giving users more transparency into token distribution and potential insider trading activity. Crypto exchange Binance is partnering with blockchain data platform Bubblemaps to give users of its non-custodial Web3 Wallet more insight into potential insider trading and token manipulation. The integration will allow millions of Binance Web3 Wallet users to utilize Bubblemaps’ blockchain data visualization tool to view token distribution and onchain wallet clusters, aiming to add “layers of transparency” to the Binance experience, according to a Wednesday announcement shared with Cointelegraph. Binance aims to help traders identify insider trading activity or other coordinated market behavior by analyzing a token’s distribution pattern. Read more

Bubblemaps flags 100 wallets that claimed 9.8 million MYX tokens worth around $170 million, calling it the “biggest airdrop Sybil of all time.” Blockchain analytics firm Bubblemaps has flagged what it claimed could be the largest Sybil attack in crypto history, identifying around 100 freshly funded wallets that claimed 9.8 million MYX tokens, worth $170 million, from a recent airdrop. In a series of X posts on Wednesday, Bubblemaps revealed that the wallets received similar amounts of BNB (BNB) from crypto exchange OKX within minutes of each other, nearly a month before the airdrop. “Everyone is talking about MYX hitting a $17B FDV A 20x in under 48 hours,” Bubblemaps wrote. “But we spotted something unusual. Something no one is mentioning,” it added. Read more

A new Eric Trump token on Solana surged 6,200%, raising rug-pull concerns as blockchain sleuths trace insider wallet activity and repeated scam attempts. A fake Eric Trump-themed memecoin launched on Solana’s memecoin launchpad Pump.fun, rose more than 6,200% in the past 24 hours, raising red flags among blockchain analysts who warned of a potential rug pull. A newly-created Eric Trump (ERICTRUMP) memecoin with the token address “jv7d” surpassed $140 million in market capitalization within a day since its launch on May 16, CoinMarketCap data shows. The memecoin’s distribution raises significant red flags that point to a rug pull “in the making,” warned blockchain data platform Bubblemaps in a May 16 X post. Read more