still mostly analog. patterns, builder, entrepreneur, analyzing your transactions since 2016

I hate to say it but the Solana trenches are rinsed. 

The $pop wallet that FSH'd ~$22k was slowly selling over the past 24 hours after receiving multitudinous inbound transfers of the token from a number of accounts, all in denominations equivalent to roughly $950. 

This is a typical strategy to obfuscate the source of funds (Slerf tools has easy to use and cheap functions for this). 

The wallet never made a purchase of the actual token, it only received the tokens for free. 

It got impatient and dumped everything it held. Over the course it was more than 35% of the total supply of the token.

SKYCASTLE

wow thanks for the forensics. I feel humbled as I am letting this sink in - how little I still know about the mechanics and ways to rug smart.

what is also sinking in is that devs are prepared to rug EVEN when they have the chance to build a successful app here. build 12k followers. had instant launch success.

Reading the many replies to many casts here proves my thesis: people insta loved it, and for many who don't have big angel investment bags like me or peers, this could have been a meaningful and easy way to make a few bucks a week which they would have used in other apps - like their own flywheel.

hard lesson for me ngl and the worst part is that after the burn I 2x my position - by selling $DAU