Thread by @Gr1zzlyTrades

Gainzy has dumped 45M of Rollbit's RLB coin (worth $3M at ATH) in the last 2 weeks while continuing to shill it as an "underpriced investment".

The sales occur just hours after his tweets promoting the coin, mixing the RLB through Rollbit's cold wallets to prevent detection.

It is also highly likely that Gainzy's RLB purchases and sales are coordinated directly with the Rollbit team in an effort to pump and dump the coin, as all the SOL received from the sales are always instantly sent back to Rollbit's deposit wallet.

After taking a paid sponsorship from Rollbit in January, he has continuously shilled the website and its products using his referral link - most notably the RLB coin.

Even 1 day prior to dumping his holdings, he tweeted that "RLB is still undervalued"

It all starts with SOL address 5Uqx

5UqXrqhGHnu6CkUArmqvT8rQsAtLo7c8V9TJU2ECCnrj

Gainzy publicly shills his RLB purchases received through 5Uqx, and the transactions posted on his Twitter line up with the RLB inflows to the address.

On 3/17, he purchases $400k of RLB to 5Uqx

Other examples of the RLB purchase tweets also line up with on-chain activity in the 5Uqx address.

Here's another from 03/08 with 5Uqx where he purchases $200k of RLB and immediately posts the trade on Twitter after buying.

So now we know that 5Uqx is, in fact, Gainzy's SOL address that he uses to buy RLB. But what does he do with this RLB?

A feature on Rollbit is to use the website as a coin mixer, where you can deposit your RLB to your Rollbit account and then withdraw it to other addresses.

We see this activity consistently on his address, where he purchases the RLB with SOL, then immediately deposits it to Rollbit.

The address that this RLB goes to is:

RBrmuWVfpD7tVBVmfusrmA624wVCWa1F2ovdSxuB8yw

RBrmu is the intermediary depo wallet for his Rollbit account

This address is SPECIFIC to his Rollbit account. All SOL and RLB deposits that are sent to this RBrmu address are credited directly to his Rollbit account.

What we find is that he uses Rollbit as the intermediary mixer to store the RLB, before withdrawing it to other addresses

Here's where things get interesting, a new wallet shows up:

FwawkT3Zuzh94pBXR2aNognqPxUM3qgj4hHQ8394d9iH

Fwawk is the address that Gainzy withdraws his RLB to from Rollbit (after depositing with 5UQX) to then market sell all the coins. We see on 03/17, he sells millions worth.

But wait 2-week old sales? Do you remember that date?

Oh yea, 03/17 is when he advertised his $400k RLB purchase.

After shilling, he began withdrawing 7 figures worth of RLB and market dumping it while continuing to shill it on his account.

You might ask, how do we know that Fwawk is actually his address? We know that he buys his RLB using 5Uqx, deposits it onto Rollbit through the RBrmu wallet, but how do we know this is him dumping?

Well, he got sloppy. On 03/18, he sent $200k of SOL from Fwawk to RBrmu.

This is among 8 other transactions where Gainzy sent a total of 30,000 SOL from Fwawk to RBrmu, confirming that Gainzy has control over both wallets.

Only Gainzy would have the RBrumu wallet address, because all deposits made to this address are directly credited to his Rollbit account.

He used RBrumu originally to send millions of RLB worth from 5Uqx to Rollbit, then withdrew from Rollbit's wallet to Fwawk over weeks.

We see in these screenshots that 5UQX has purchased +45,847,409.11 worth of RLB (first pic).

In the second screenshot, we see he sold -36,651,756.89 worth of RLB.

Many of these dumps have happened within the same day of Gainzy tweeting that he purchased more RLB.

It's just a cycle of buying RLB on 5Uqx, tweeting about the purchase, sending to Rollbit, withdrawing RLB to Fwawk and market selling it for weeks.

You can check the wallet activity here:

5Uqx (buy RLB)
birdeye.so/profile/5UqXrq…

Fwawk (sell RLB) birdeye.so/profile/FwawkT…

It is interesting how in the Rollbit discord, some of the users have actually speculated that the Fwawk address is related to him in some capacity - now we know who is behind the dumping of the coin.

Summary:

Buys on 5Uqx -> sends to RBrmu (rollbit deposit address) -> credited on his rollbit account -> withdraws to Fwawk -> market sells

We know he owns 5Uqx from the tweet purchases, and we know he owns Fwawk because he sent over 30k SOL total from Fwawk to RBrmu.

Thanks for reading, and special thanks to @zachxbt for checking over everything before posting.

You can also see my tweet about Rollbit losing their license and hiding their crypto derivatives product here.

https://twitter.com/Gr1zzlyTrades/status/1641514644484284417