News

Is this illegal, or just unethical?

A little backstory

On November 6, we posted on X about the widespread problem of extracting millions, which is being made easier by launchpads and social trading. Launchpads are paying dishonest KOLs large sums of money so they can drive volume, which generates revenue for the launchpads in return. It also doesn’t help that KOLs on CT are convincing people that there is nothing wrong with bundling.

We have already talked about the extractive practices of KOLs in the previous email so with no further ado, let’s continue:

Meet Cupsey

Some consider him a trading “legend”, some a streamer, some a gamer… but nobody considers him an extractor? His side wallets are up $1.7M in just a few months.

Cupsey built a massive following during the 2024-2025 bullrun, making him one of the biggest names on Solana. We found 30 wallets connected to his public pumpfun wallets. The pattern is always the same:

4 operational wallets buy, then distribute the tokens to multiple side wallets
Cupsey’s public wallet buys
Copy traders pile in
Side wallets start selling

And the cherry on top - multiple on-chain connections link him to a serial deployer that launched thousands of tokens (and Cupsey sniped them all).

And for all of the above… he gets rewarded for his callouts, while selling through his side wallets.

Interested in some more details? Read more:

Global markets are not looking too good…

…but still better than Justin Sun’s locked $WLFI investment since he was blacklisted last year.

Since Democrats took over the Senate and House in the U.S., the possibility of big lawsuits regarding President Trump’s ventures is looking likely. World Liberty Financial might get caught in the middle of it all however, it’s just speculation for now.

Sadly, what is not speculation is that Justin Sun’s $WLFI investment is down $100,000,000. (X post)

Keep track of $WLFI bubble map

Polymarket drained?

One of Polymarket’s third-party providers was compromised. Our estimate is that around 700 users were affected, with $2.7M stolen. The attacker converted the funds to $POL and split them across multiple wallets. We’ll keep track of it and keep you updated on X!

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