On-Chain Detective Diary: How I Discovered the Project Team Cashing Out with Bubblemaps

Today, while monitoring a project claiming to be the "next Uniswap," I found some interesting things. The project team mentioned in an AMA that the team tokens would be locked for a year, but Bubblemaps told me it wasn't that simple.

The first thing I noticed was a wallet labeled as "team advisor," which has been transferring a fixed amount of tokens to exchanges every week since the project launched. Even stranger, these transfers happen around 3 AM Beijing time, and each amount is just below the exchange's large transfer alert threshold.

I continued digging along this address and found that it has frequent capital interactions with five other "seed investor" addresses. The initial funds for these addresses all came from withdrawal records of the same exchange, all within a week before the project started.

The most ridiculous part is that the project team is still heavily promoting "team's firm hold" on Discord, while on-chain data shows they are quietly cashing out. I compiled these findings into a chart and shared it in the project’s community channel, and I was kicked out of the group chat within five minutes.

This is the charm of blockchain: mouths can lie, but on-chain data never will. #Bubblemaps $BMT @Bubblemaps.io