This wallet spent 792◎ to purchase 6 Bold Badgers for prices between 100◎ to 150◎.
This not a good look. Why?
Well if you recall, Solanart was the team who created Bold Badgers.
Here is an account directly funded by Solanart's fee wallet that was buying NFTs from a project it created itself.
"But @sainteclectic, maybe the account belongs to a team member who really loves their own product.
After all Bold Badgers did feature some groundbreaking art..."
Well consider that the Wallet of Badgers bought 5 badgers over 29-30th Aug with 652◎.
This accounted for 21% of traded Badger volume (in SOL) over those two days.
That's a lot for one account, let alone one linked to the very guys who created the project.
Also consider that the Intermediary purchased these Badgers at 100◎ to 150◎ when the average Badger price over those 2 days was between 16-26◎ - a good ~80% lower.
Even if you adjust for rarities this is a large discrepancy.
Today, the Badger floor price is 3.29◎.
To summarize, not only did Solanart use its own funds to buy the NFT it created:
- it did so on its own marketplace
- with size (20% of the 2-day SOL volume over 29-30 Aug) and
- at prices 80% higher than the average price on the day
Do these actions seem ethical?
I mean, we know that big looking sales / volume drive the market and can induce people to fomo in the market.
The crazy thing is that Intermediary Wallet A is not the only one.
There are in fact many other intermediaries that receive funds directly from the Solanart Fee Wallet.
One of these ("Intermediary Wallet B") has received 24,800◎ in total from Solanart. solscan.io/account/HB7ETk…
Intermediary Wallet B also received 279◎ from account 5SUC...jjjQ ("Wallet X").
This links Wallet X to Solanart as both their wallets transferred a large amount of ◎ into Intermediary Wallet B.
It's not conclusive but Wallet X's behaviour seems a little odd too...
Let's look at one example: Aurory#3211 (Token: explorer.solana.com/address/4MyZ2D…)
- It was sold on 2nd Sept for 218.5◎
- Wallet X then bought it for 237.5◎ a day later
- Wallet X listed for 150◎, then 130◎, then 110◎ til it finally sold
You could say Wallet X just speculated on Aurory and lost out.
But it's a large loss to wash away.
Especially when Aurory (a blue chip NFT) has a game planned and could be a big win long-term.
Lastly remember, Wallet X is directly linked to Solanart's wallets & activity.
In this thread we've focused on what's on the blockchain and shown you connecting links.
There could be valid explanations for what we've seen.
Having said that, how comfortable do you feel that the auction site you're listing on buys and sells NFTs, especially ones it created?
I'll conclude by saying that we are only scratching the surface - there are many of transactions to analyze in Wallet X and the other wallets linked to the Solanart Fee Wallet.
If you'd like to help, just follow the white rabbit...
1/ At $50m The @CashioApp exploit was the 2nd largest heist on @solana & 13th largest hack overall. Despite this its been radio silence for hours.
@Saber_HQ have been working on it but have not been contacted by the exploiter.
Can anyone help? What we know & some thoughts🧵👇
2/ After the exploiter minted 2billion CASH they drained the CASH deposits of USDT & USDC ($26m) & swapped their remaining CASH tokens for ($25m) through @Saber_HQ crashing CASH's price to 0.
They now had~$50m of USDC/USDT/UST, $21m of which was swapped to ETH & wormholed to ETH
3/ All this was detailed by @0xavarek in this detailed thread:
2/ .. & they both just used that exchange to fund their activities
It's been 24 hours later and not much has emerged or been announced. There are many anxious investors in the Cashio, Saber & Sunny discords.
3/ Spreading risk is impt. Unfortunately in this instance many people have lost a large amount of USD (some upwards of millions) & it has been difficult for many to stay calm.
The hacker sent back amounts <$100k but not directly to user wallets (to LP-related side wallets)
In the last hour 100+ @DegenTrashPanda have been swept, raising the floor from 2.6◎ to 3◎. As you know, DTP is the companion Degeniverse project to @DegenApeAcademy.
Some observations & upcoming catalysts around the DTP game & $RAIN token 🦝💦🧵👇 #solana#solananfts#nfts
Over the last hour, wallet 8igPE has picked up over 100 Degen Trash Pandas. This is a different individual to the ones that bought 26 Degen Apes overnight.
8igPE holds 244 DTP as of writing along with 6 Panda Rugs & 84 Degen Apes - a big believer in the Degeniverse while also owning various other Solana NFTs like @TaiyoRobotics@SolanaMBS & @catalinawhales
A little bit of action this evening on the @DegenApeAcademy front with 26 apes being sold in quick succession over the last 3 hours to GMos & 10 individual buyers, bringing the floor to 58SOL🧵👇 #solana#solananfts#nfts#degenape
The ape buying was kicked off by wallet GMos 3 hours ago - with it buying 16 apes and transferring them to 2T5k, an account that holds $1.08m worth of @genopets GENE tokens & 24 @Gyris_official NFTs. nfteyez.global/accounts/2T5kb…
Since then there have been another 10 sales mostly on @MagicEden in the 55 to 65 SOL range.
All of these went to 10 different buyers, with the pink lady sailor heading @9x9x9eth's way.