TREE NEWS reports: On-chain investigator Specter shared a post on X flagging InfoFi project BILL as a suspected scam, with the Billion (BILL) token down about 97% from its all-time high. Over the past two months, 17 wallets that received tokens from team-linked wallets deposited roughly 988 million BILL to Bybit, and a separate deposit address sent another 360 million BILL this week, all originating from the project team’s multisig wallet. Total inflows to Bybit over two months reached about 1.35 billion BILL, roughly 13.6% of total supply and an estimated $15 million; the team had previously raised $30 million from venture investors.
Specter flags InfoFi project BILL as suspected scam; token down 97% from peak
AI take
The scale of team-linked supply reaching a single exchange — over a tenth of total supply traced back to the project's own multisig — is the substantive detail here, not the price collapse itself. It points to a distribution pattern that venture backers who funded the project will want to understand, since the amounts moved dwarf what the token's current valuation implies. Whether exchange inflows from team-controlled wallets continue, and how Bybit and the project respond to the on-chain trail, is the open question worth tracking.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
28m ago
PAPER Briefly Tops $0.035 Before Pulling Back to $0.02743
33m ago
TD Cowen Raises Strive Price Target to $56 as Firm Holds 35,600 BTC
35m ago
Justin Sun Address Receives 7.2 Trillion PEPE Worth $28.44M from Poloniex
47m ago
Hyperliquid Burns 11,340 HYPE in 24 Hours, Cumulative Total Hits 49.63M
1h ago
Crypto Losses Hit $1.18B in Q3 Across 107 Security Incidents: Hacken
1h ago
BIS paper: rising bank deposit rates slow stablecoin growth