Most complete @Solana trading terminal with live launches, wallet tracking and onchain risk analysis. From your own wallet. @MastrXYZ @MASTRlabs
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Last night, I traced a TRON→Ethereum→TRON trail linked to the @Bitget incident and reported it to Bitget.
The portal confirmed receipt: 260926-030544-ZXB2.
I have since verified 20 anchors.
My provisional conservative attribution: 232,903.293115 USDT.
Evidence below.
Bitget publicly identifies TBWN… as a primary attacker-controlled TRON address: bitget.com/support/articles/…
It sent 722,717.515019 TRX to TKJZ…: tronscan.org/transaction/83f…
TKJZ… swapped 722,513.941829 TRX into 243,267.365292 USDT in three SunSwap transactions: tronscan.org/transaction/a39… tronscan.org/transaction/b32… tronscan.org/transaction/f05…
TKJZ’s USDT ledger has 3 swap receipts and 3 OFT sends totaling 243,267.365292 USDT: tronscan.org/address/TKJZQM7…
The 10,000-USDT side branch arrived on Ethereum as 9,997; I exclude it from the reported estimate. tronscan.org/transaction/fa7… etherscan.io/tx/0x098cf9ffe6…
Matching LayerZero OFT GUIDs connect two main bridge pairs: 100,000 USDT on TRON → 99,970 on ETH; 133,267.365292 → 133,227.385083. Event logs: tronscan.org/transaction/875… etherscan.io/tx/0x4f85a73fac… tronscan.org/transaction/39d… etherscan.io/tx/0x3d6a0e7e70…
The excluded 9,997-USDT side branch went out and returned through Chainflip as 9,996.706885 USDT. Its 0.293115 reduction is separate from the main route: etherscan.io/tx/0x7d4194dcbc… etherscan.io/tx/0x2eb04a542a…
The ETH wallet sent 243,194.091968 USDT back through LayerZero; 243,121.133741 arrived on TRON. The return OFT GUID matches: etherscan.io/tx/0x5b0891ce65… tronscan.org/transaction/b36…
TTVUv… then sent 23,551 + 66,229 + 153,213 = 242,993 USDT to TRzm… in three confirmed transactions; 128.133741 USDT remained at TTVUv…: tronscan.org/transaction/050… tronscan.org/transaction/84f… tronscan.org/transaction/4c4…
TRzm… sent 242,900 USDT to TSERwt…. The trail then continued TSERwt… → THCvq… → TMTYR…. Those later aggregate transfers contain mixed funds and are not added again: tronscan.org/transaction/234… tronscan.org/transaction/c6c… tronscan.org/transaction/f73…
Attribution model: 233,197.385083 − 72.958227 − 128.133741 − 93 = 232,903.293115 USDT.
This is my conservative estimate, pending Bitget validation.
⏩mastrlabs.com/services
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MASTRtrade is LIVE!
Trade smarter. See further.
@Solana trading, token research and wallet intelligence in one terminal.
Investigate the supply, understand the launch, assess your exit and trade from your own wallet.
→ MARKETS & DISCOVERY
• Live launches and new pools across Solana
• Pulse: new pairs, bonding-curve progress and graduated tokens
• Trending, most-traded, organic activity, majors and sector categories
• Custom watchlists, filters, saved screens and sortable columns
• Compare up to 4 tokens across 1h, 24h and 7d
• Spot and perpetuals venue data
• MASTRcheck search: tokens, wallets, pools, programs and transactions
→ MASTRscan | 27 CHECKS ACROSS 6 GROUPS
• Mint and freeze authorities
• Token-2022 transfer fees, permanent delegates and transfer hooks
• Holder concentration, fresh wallets and connected holders
• Liquidity, LP status and supply held in locks or program accounts
• Creator history, copied names and tickers
• Bundled buys, snipers and creator-funded buyers
• Suspicious volume and exit-liquidity analysis
• Sources and timestamps attached to results
• RugCheck and GoPlus assessments with visible disagreements
Missing data is never treated as confirmation of safety.
→ LAUNCH & CREATOR INTELLIGENCE
• Creator wallet and previous launches
• First 12 buyers, their holdings and shared funders
• Bundled entries, sniper activity and creator sales
• Reused websites, X accounts, Telegram links and images
• Serial creators and concentrated supply
• Liquidity outflows and suspected wash trading
• Active authorities and network conditions
→ WalletCircles | HOLDER RELATIONSHIPS
• Interactive map of the 20 largest holders
• Shared initial SOL funders and visible wallet transfers
• Supply allocation across pools, locks, program accounts and wallet groups
• Views based on wallet age, activity and profit
→ CHARTS & EXECUTION ANALYSIS
• 21 chart indicators and drawing tools
• Candles, Heikin Ashi, line and area views
• USD, SOL and market-cap units
• Recent trades, order flow and major buyers
• Holder distribution and token lifecycle events
• Liquidity across DEX pools
• MASTR Brief: context, concerns and key levels
• Exit Reality: estimated proceeds from selling 25–100% of a position
• Liquidity walls based on executable Jupiter quotes
→ WALLET WATCH & PORTFOLIO
• Wallet holdings, swaps and funding connections
• Average entries, PnL and trading records
• Watched-wallet comparisons and activity monitoring
• Mirror actions with your review and signature
• Portfolio positions and allocation
• Realised and unrealised PnL
• Limit-order and DCA history
→ TRADING & TRANSACTION CONTROLS
• Jupiter-routed swaps
• Limit orders through Jupiter Trigger
• DCA through Jupiter Recurring
• Adjustable slippage and quick trade sizes
• Keyboard shortcuts and risk-based position sizing
• Auto, Fast and Turbo priority settings
• Optional Jito MEV-protection routing
• Transaction simulation before signing
• Message-hash verification after signing
• Rejection of changed transactions
• Confirmed receipts based on actual onchain results
Your wallet signs. MASTRtrade never takes custody of your funds or asks for your seed phrase or private key.
→ ALERTS & POSITION MONITORING
• Price, volume, watchlist, launch and feed rules
• Watched-wallet activity alerts
• In-app, Web Push and Telegram notifications
• Server monitoring when signed in
• Monitored take-profit, stop-loss and trailing levels
Triggered TP, SL and trailing levels notify you and prepare the sell for review. You still sign the transaction; these levels do not execute unattended sales.
→ CUSTOMISATION & SYNC
• Degen, Trader and Pro layouts
• The same underlying intelligence across all 3 views
• Reorderable modules and custom columns
• Adjustable mobile navigation
• Saved filters and list management
• Browse without registering
• Optional wallet-signature sign-in, without email or password
• Sync watchlists, alerts and armed levels
• Share token, scan, WalletCircles, exit, wallet and PnL cards
• Import and export lists
• Provider-status visibility
• Configurable sounds and notification preferences
→ PLATFORMS & WALLETS
• Web browser
• Installable web app on supported desktop and mobile browsers
• iPhone access through Safari and Add to Home Screen
• Android APK for compatible phones, including Solana Seeker
• Wallet Standard support, including Phantom, Solflare and Backpack
• Mobile Wallet Adapter on Android
The full workspace is best explored on a PC monitor.
→ PRICING
• Free access and APK download
• 1% interface fee per executed swap
• Hold at least $100 worth of $MASTR in your connected wallet for a 33% interface-fee discount, reducing it to 0.67%
• Fees displayed before signing
• Network fees, priority fees and applicable Jito tips are additional
Built by @MASTRlabs to bring investigative research into the trading workflow. Data can be incomplete or delayed, and no scan guarantees safety.
→ OPEN THE TERMINAL
mastrtrade.com
→ ANDROID DOWNLOAD & DETAILS
mastrapps.com/mastrtrade
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I promise I’ll stop bothering you so often with the stuff I build after this.
Don’t worry, I’ll keep doing my investigations and tearing into KOLs, scams, lies and more here.
But I’m proud of what I’ve built, and I hope people recognise the value this terminal offers and see how it could replace the separate scanning tools and trading terminals they currently use.
It has practically every piece of information I could bring together, and I think it delivers it better than the industry’s established players.
Some APIs are hitting their limits right now.
Once trading fees cover the running costs, I’ll upgrade them.
Or maybe someone sees the potential and chips in ;)
I’m still working on it around the clock.
Thank you to everyone giving it a try.
MASTRtrade is LIVE!
Trade smarter. See further.
@Solana trading, token research and wallet intelligence in one terminal.
Investigate the supply, understand the launch, assess your exit and trade from your own wallet.
→ MARKETS & DISCOVERY
• Live launches and new pools across Solana
• Pulse: new pairs, bonding-curve progress and graduated tokens
• Trending, most-traded, organic activity, majors and sector categories
• Custom watchlists, filters, saved screens and sortable columns
• Compare up to 4 tokens across 1h, 24h and 7d
• Spot and perpetuals venue data
• MASTRcheck search: tokens, wallets, pools, programs and transactions
→ MASTRscan | 27 CHECKS ACROSS 6 GROUPS
• Mint and freeze authorities
• Token-2022 transfer fees, permanent delegates and transfer hooks
• Holder concentration, fresh wallets and connected holders
• Liquidity, LP status and supply held in locks or program accounts
• Creator history, copied names and tickers
• Bundled buys, snipers and creator-funded buyers
• Suspicious volume and exit-liquidity analysis
• Sources and timestamps attached to results
• RugCheck and GoPlus assessments with visible disagreements
Missing data is never treated as confirmation of safety.
→ LAUNCH & CREATOR INTELLIGENCE
• Creator wallet and previous launches
• First 12 buyers, their holdings and shared funders
• Bundled entries, sniper activity and creator sales
• Reused websites, X accounts, Telegram links and images
• Serial creators and concentrated supply
• Liquidity outflows and suspected wash trading
• Active authorities and network conditions
→ WalletCircles | HOLDER RELATIONSHIPS
• Interactive map of the 20 largest holders
• Shared initial SOL funders and visible wallet transfers
• Supply allocation across pools, locks, program accounts and wallet groups
• Views based on wallet age, activity and profit
→ CHARTS & EXECUTION ANALYSIS
• 21 chart indicators and drawing tools
• Candles, Heikin Ashi, line and area views
• USD, SOL and market-cap units
• Recent trades, order flow and major buyers
• Holder distribution and token lifecycle events
• Liquidity across DEX pools
• MASTR Brief: context, concerns and key levels
• Exit Reality: estimated proceeds from selling 25–100% of a position
• Liquidity walls based on executable Jupiter quotes
→ WALLET WATCH & PORTFOLIO
• Wallet holdings, swaps and funding connections
• Average entries, PnL and trading records
• Watched-wallet comparisons and activity monitoring
• Mirror actions with your review and signature
• Portfolio positions and allocation
• Realised and unrealised PnL
• Limit-order and DCA history
→ TRADING & TRANSACTION CONTROLS
• Jupiter-routed swaps
• Limit orders through Jupiter Trigger
• DCA through Jupiter Recurring
• Adjustable slippage and quick trade sizes
• Keyboard shortcuts and risk-based position sizing
• Auto, Fast and Turbo priority settings
• Optional Jito MEV-protection routing
• Transaction simulation before signing
• Message-hash verification after signing
• Rejection of changed transactions
• Confirmed receipts based on actual onchain results
Your wallet signs. MASTRtrade never takes custody of your funds or asks for your seed phrase or private key.
→ ALERTS & POSITION MONITORING
• Price, volume, watchlist, launch and feed rules
• Watched-wallet activity alerts
• In-app, Web Push and Telegram notifications
• Server monitoring when signed in
• Monitored take-profit, stop-loss and trailing levels
Triggered TP, SL and trailing levels notify you and prepare the sell for review. You still sign the transaction; these levels do not execute unattended sales.
→ CUSTOMISATION & SYNC
• Degen, Trader and Pro layouts
• The same underlying intelligence across all 3 views
• Reorderable modules and custom columns
• Adjustable mobile navigation
• Saved filters and list management
• Browse without registering
• Optional wallet-signature sign-in, without email or password
• Sync watchlists, alerts and armed levels
• Share token, scan, WalletCircles, exit, wallet and PnL cards
• Import and export lists
• Provider-status visibility
• Configurable sounds and notification preferences
→ PLATFORMS & WALLETS
• Web browser
• Installable web app on supported desktop and mobile browsers
• iPhone access through Safari and Add to Home Screen
• Android APK for compatible phones, including Solana Seeker
• Wallet Standard support, including Phantom, Solflare and Backpack
• Mobile Wallet Adapter on Android
The full workspace is best explored on a PC monitor.
→ PRICING
• Free access and APK download
• 1% interface fee per executed swap
• Hold at least $100 worth of $MASTR in your connected wallet for a 33% interface-fee discount, reducing it to 0.67%
• Fees displayed before signing
• Network fees, priority fees and applicable Jito tips are additional
Built by @MASTRlabs to bring investigative research into the trading workflow. Data can be incomplete or delayed, and no scan guarantees safety.
→ OPEN THE TERMINAL
mastrtrade.com
→ ANDROID DOWNLOAD & DETAILS
mastrapps.com/mastrtrade
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I live and breathe crypto, probably more than I should.
I’ve poured an enormous amount of my own time and money into MASTRtrade, the Crypto Wiki, the apps and the investigations.
This is practically a one-man operation, built without grants or outside funding.
I can’t match the budgets, teams or reach of the major players, but I’m proud of how much I’ve built with what I have.
I love Solana.
I’ve built this ecosystem around it, and the worst parts of the chain are a large part of what drives me: the scams, paid manipulation and endless extraction from people who were never given the information they needed.
Seeing that every day pushes me to build better tools and publish research that helps people understand what they’re dealing with.
Honestly, I struggle to understand why the work hasn’t received more attention.
Then I look at how visibility is bought in this industry.
I haven’t hired paid shills or bought hype, and that makes getting noticed harder.
I still want to prove that quality, useful products and consistent work can earn their place without paying people to pretend they care.
To everyone giving my work a chance, thank you.
Using an app, reading an investigation, sharing it or telling me what needs improving means a lot when you’re carrying almost all of this yourself.
I hope what I’ve built gives you a reason to keep paying attention.
I’m writing on behalf of MASTR because, in my view, very few independent projects deliver this breadth of work while receiving so little attention.
MASTRtrade and the MASTR Crypto Wiki lead an ecosystem spanning security, research, payments, wallet maintenance and gaming.
📊 MASTRtrade.com | Solana trading and intelligence
Discover live launches, follow new pairs through graduation and investigate tokens with 27 security checks across 6 groups.
Examine authorities, holder concentration, connected wallets, developer activity, bundles, snipers, liquidity and reused project identities.
Includes Wallet Watch, holder relationship maps, portfolio tracking, charts with 21 indicators and Exit Reality estimates. Jupiter powers swaps, limit orders and DCA from your own wallet. Monitored TP, SL and trailing levels notify you; selling still requires your signature.
Live in your browser, plus Android APK for compatible phones and Seeker. Best explored on a PC monitor.
mastrtrade.com mastrapps.com/mastrtrade/
📚 MASTR Crypto Wiki | Knowledge and investigations
Free original research, documented cases and practical explanations of scams, wallets, tokens, DeFi and blockchain infrastructure.
The published archive includes 408 articles and references, 184 glossary terms, 131 timeline events and 6 learning paths, with investigations connecting evidence, money flows and market incentives. Articles are accessible without a paywall.
mastrlabs.com/knowledge/
🐾 CryptoPets | Live 3D pet game and Solana launchpad
Care for, customise and evolve companions across 43 pet species and 28 animated 3D worlds. Includes breeding, squads, daily goals, 6 mini-games and Scam School. Real market data influences pet behaviour; adopting a pet does not buy a token.
Optionally turn your own creation into a Solana token through Meteora’s Dynamic Bonding Curve, signing in your wallet and managing it through the creator dashboard.
Free to play, 18+. Android APK and Seeker dApp Store: search “CryptoPets by MASTR”.
mastrapps.com/cryptopets/
🔐 MASTRpass Pro | Encrypted offline vault
Passwords, recovery phrases, TOTP, notes and files, with up to 16 vaults, autofill, supported local passkeys, encrypted backups, recovery tests and 30 offline inspection tools. No Android internet permission. Free, without ads or subscriptions.
Seeker dApp Store: “MASTRpass Pro”, or Android APK: mastrapps.com/mastrpass/
🧹 MASTRsweep | Solana wallet cleanup
Recover SOL from empty token accounts, sell dust through Jupiter, burn selected spam and revoke approvals. Value Guard checks 2 independent price sources and protects tokens with unverified values.
Seeker dApp Store: “MASTRsweep”, or Android APK:
mastrapps.com/mastrsweep/
📤 MASTRsender | Batch payments
Send SOL and SPL tokens to hundreds of wallets. Import Excel, CSV or text lists, review costs, save campaigns, resume after onchain checks and export logs or PDF receipts.
Seeker dApp Store: “MASTRsender”, or Android APK:
mastrapps.com/mastrsender/
📱 $MASTR App | Security and community
Token checks, scam warnings, learning, push alerts, private and group chats, wallet connection, daily rewards and badges.
Live on iOS and Android. Both store links:
mastrapps.com/mastr-app/
🤖 askMASTRbot | Token checks and Web3 questions in Telegram t.me/askmastrbot
🎮 Coming soon: Rug RaiderA new 3D game joining the ecosystem.
The development, maintenance and research behind this deserve more visibility.
The products and published work are there for anyone to examine.
MASTRapps.com
MASTRlabs.com
MASTRtrade.com
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MASTRtrade retweeted
I’m writing on behalf of MASTR because, in my view, very few independent projects deliver this breadth of work while receiving so little attention.
MASTRtrade and the MASTR Crypto Wiki lead an ecosystem spanning security, research, payments, wallet maintenance and gaming.
📊 MASTRtrade.com | Solana trading and intelligence
Discover live launches, follow new pairs through graduation and investigate tokens with 27 security checks across 6 groups.
Examine authorities, holder concentration, connected wallets, developer activity, bundles, snipers, liquidity and reused project identities.
Includes Wallet Watch, holder relationship maps, portfolio tracking, charts with 21 indicators and Exit Reality estimates. Jupiter powers swaps, limit orders and DCA from your own wallet. Monitored TP, SL and trailing levels notify you; selling still requires your signature.
Live in your browser, plus Android APK for compatible phones and Seeker. Best explored on a PC monitor.
mastrtrade.com mastrapps.com/mastrtrade/
📚 MASTR Crypto Wiki | Knowledge and investigations
Free original research, documented cases and practical explanations of scams, wallets, tokens, DeFi and blockchain infrastructure.
The published archive includes 408 articles and references, 184 glossary terms, 131 timeline events and 6 learning paths, with investigations connecting evidence, money flows and market incentives. Articles are accessible without a paywall.
mastrlabs.com/knowledge/
🐾 CryptoPets | Live 3D pet game and Solana launchpad
Care for, customise and evolve companions across 43 pet species and 28 animated 3D worlds. Includes breeding, squads, daily goals, 6 mini-games and Scam School. Real market data influences pet behaviour; adopting a pet does not buy a token.
Optionally turn your own creation into a Solana token through Meteora’s Dynamic Bonding Curve, signing in your wallet and managing it through the creator dashboard.
Free to play, 18+. Android APK and Seeker dApp Store: search “CryptoPets by MASTR”.
mastrapps.com/cryptopets/
🔐 MASTRpass Pro | Encrypted offline vault
Passwords, recovery phrases, TOTP, notes and files, with up to 16 vaults, autofill, supported local passkeys, encrypted backups, recovery tests and 30 offline inspection tools. No Android internet permission. Free, without ads or subscriptions.
Seeker dApp Store: “MASTRpass Pro”, or Android APK: mastrapps.com/mastrpass/
🧹 MASTRsweep | Solana wallet cleanup
Recover SOL from empty token accounts, sell dust through Jupiter, burn selected spam and revoke approvals. Value Guard checks 2 independent price sources and protects tokens with unverified values.
Seeker dApp Store: “MASTRsweep”, or Android APK:
mastrapps.com/mastrsweep/
📤 MASTRsender | Batch payments
Send SOL and SPL tokens to hundreds of wallets. Import Excel, CSV or text lists, review costs, save campaigns, resume after onchain checks and export logs or PDF receipts.
Seeker dApp Store: “MASTRsender”, or Android APK:
mastrapps.com/mastrsender/
📱 $MASTR App | Security and community
Token checks, scam warnings, learning, push alerts, private and group chats, wallet connection, daily rewards and badges.
Live on iOS and Android. Both store links:
mastrapps.com/mastr-app/
🤖 askMASTRbot | Token checks and Web3 questions in Telegram t.me/askmastrbot
🎮 Coming soon: Rug RaiderA new 3D game joining the ecosystem.
The development, maintenance and research behind this deserve more visibility.
The products and published work are there for anyone to examine.
MASTRapps.com
MASTRlabs.com
MASTRtrade.com
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What is happening at @Bitget is unusual.
I have several findings that point to a potential problem, including substantial wallet outflows, conversions into ETH and an Ethereum withdrawal restriction reported by Bitget’s own API.
➡️The short version is in the 2nd post for anyone who does not want to read the full investigation.⬅️
I checked transaction records, token transfers, internal ETH movements, wallet labels and Bitget’s public API.
The snapshot below is from now September 24, 2026, approximately 20:15 - 20:45 UTC. A hack remains unconfirmed because the critical question is still unresolved: who controls the receiving wallets, and were these transfers authorised?
The primary collection address is:
0x770b10b273fc44fe9197d6bf20f145c2e98463ee
On Ethereum, I traced incoming transfers of 24,373.375940615 ETH, 34,751,168.120990 USDT, 12,852,046.242513 USDC and 3,000.322053 XAUt.
On Avalanche, the same address received 821,011.971142467 native AVAX.
At prices retrieved around the snapshot, those Ethereum and Avalanche inflows alone represent approximately $134.44M.
That is a verified subset of the movements.
The Ethereum sources are addresses independently labelled by explorers as Bitget 6, Bitget 35, also identified as Cold Wallet 9, and Bitget 5. Bitget 6 supplied approximately 9,010.90 ETH plus the USDT and USDC.
Bitget 35 supplied approximately 15,362.48 ETH. Bitget 5 supplied the XAUt. Explorer labels are attribution evidence, although they cannot prove who authorised a transaction.
The first recorded ETH funding of the collection address was 0.84 ETH at 18:31:11 UTC.
The large USDT transfer followed at 18:58:59. At 19:05:11, the collection address sent 0.1 ETH to a second wallet, followed by practically all the USDT, USDC and XAUt:
0x7c96279ec1e888aa56b9b836e0db26ca48573e1c
That second wallet started converting the assets into ETH. This is supported by token outflows and native ETH receipts sharing transaction hashes. For example, this transaction returned approximately 1,855.7977 ETH:
etherscan.io/tx/0x69803df4d6…
At 19:30:35 UTC, the swap wallet forwarded 22,320 ETH to:
0xa6dd3f218b65e32ccc37be30f74884133c655545
etherscan.io/tx/0xbf42355f96…
The Bitget-labelled source wallets continued sending ETH to the collection address after those conversions had begun. At 20:09:11 and 20:09:23 UTC, another 1,879.2 ETH and 1,395.9 ETH arrived.
The collection address then distributed 20,000 ETH through 2 separate transfers: 10,000 ETH at 20:13:11 UTC to 0xd2c2f029…2d9f899, followed by 10,000 ETH at 20:19:11 UTC to 0x600cfedc…45784b2.
etherscan.io/tx/0xf5ae8db20a…
etherscan.io/tx/0x32df608e29…
Those downstream transfers are movements of assets already counted. Adding them again would inflate the total. The collection address still held approximately 4,373.28 ETH and, separately on Avalanche, 821,011.97 AVAX at the snapshot.
🚨 Another concrete finding comes directly from Bitget.
Its public coin-status API returned withdrawable=false for ETH on the Ethereum network, while rechargeable remained true. Several other withdrawal routes, including native BTC, BNB on BEP20 and AVAX C-Chain, remained marked withdrawable=true.
api.bitget.com/api/v2/spot/p…
The API itself was accessible. A claim that all withdrawals or APIs were shut down would go beyond the evidence.
There is also contamination in the transaction history.
Fake tokens using the names USDT, USDC and ETH imitate genuine transfers, sometimes copying their amounts.
One fake USDT contract, 0x34786b43b696f34de244fb76730c79b876eb9177, reproduces a 34,751,168.12 USDT movement.
It is not the actual USDT contract. I excluded these entries.
Tiny transfers also originate from addresses copying the beginning and end of legitimate counterparties, consistent with address poisoning.
An unsolicited 0.069 RAIL transfer appears too. Neither that token transfer nor the poisoning activity establishes who controls the collection wallet, and the RAIL transfer is not evidence that these funds entered Railgun.
The main transaction dataset came from Routescan, with 1 substantial ETH transfer additionally corroborated through Ethereum JSON-RPC.
The official maintenance notices I found concern Injective. They do not explain these Ethereum movements.
Multiple exchange-labelled wallets feeding a collection address, assets being converted into ETH, onward distribution and a withdrawal restriction together warrant a precise explanation.
Bitget needs to clarify whether it controls these destinations and authorised the conversions.
Until that is established, calling this routine treasury management would be premature, and publishing “$183M confirmed stolen” would also exceed the evidence.
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My investigation machine has collected plenty of examples.
Here is 1 of them, broken down wallet by wallet, so you can see how far normal traders are pushed to the sidelines while coordinated wallets control the launch, the liquidity and the exit.
The token is PROPHET MUHAMMED:
EDjPa6k7S2vhR2HXv53L9BVhSBB6JcwgT7PPVRqZpump
Everything below happened on 21 September. All times are UTC.
At 15:41:55, in block 449098710, 16 wallets bought the bonding curve together.
Roughly 5 SOL each, 80 SOL combined, securing 778 million of the 1 billion tokens in a single block.
By the time an ordinary trader could notice the launch and decide whether to buy, those wallets had already completed the curve.
The Pumpfun AMM pool opened with 85 SOL, with the liquidity coming from the launch they had just bought themselves.
At 15:42:07, in block 449098757, the same 16 wallets started selling into that pool.
Look at the execution: 14 sold their allocations in exactly the same proportions, 25%, 37.5%, 18.75% and 18.75%. The remaining 2 followed the same pattern but split the final portion in half.
By 15:42:40, the pool was down to 17 SOL. At the time of this analysis, just 6.7 SOL remained.
In between, there were 44 outside buys worth 16.9 SOL within the pool’s first 94 trades.
This is where migration snipers and traders chasing “just graduated” tokens enter the picture.
They see a completed curve and fresh liquidity. The wallets already holding 77.8% of the supply see buyers to sell into.
Across the 16 wallets, this token produced 79.99 SOL in purchases and 82.01 SOL in sale proceeds, a combined gain of 2.02 SOL before tips and fees. But that result hides how brutally execution order distributed the money:
4 wallets won and 12 lost.
The first wallet in the buying block, 2BhM8CUawreX3P9bX6YeJMDpm7KQ7WUdRfVmECqysHs6, turned 4.99 SOL into 20.49 SOL.
The last, 96698EYmj5z59HdX81sPboDh99qdkkctwKmaib4Y85eN, turned 5 SOL into 2.24 SOL. Even inside this coordinated-looking group, your position in the block mattered enormously.
The creator wallet, GZzqQGd9epqEUoTVyKPnodfwhSK6ssMDyQRo9ewqdHL8, never bought.
Its remaining balance is exactly 0.000810624 SOL. Every 1 of the 16 buyer wallets was left with that exact same balance too.
Identical sell patterns, identical residual balances, coordinated entry.
Their initial funders were 16 different addresses aged between 2 and 14 months, but different funding addresses do very little to explain away the matching behaviour.
Then I followed where the money went.
At 23:28:37, 2BhM8 sent its accumulated proceeds for the day, 55.37 SOL, to a brand new wallet:
FgHdseeDDLQaTGs62GQRKNWWTmihmuQaXTCzAcSmsiif
That wallet divided the funds into 25%, 25% and 50% portions, then emptied out.
The 13.84 SOL branch passed through 3 fresh accounts, each used once:
4P95PtdXEdo7xETyjGCLQXZrn395xSKMe5qhivN8qQkv
BECUtXeaiou8Qg34F5KbTMaLsAs7Vyy9DJZcZx8B36rh
5RgibBjnN3E9XVfP1djNTnu2CvQRG9n9HJBCaPNNkTBP
At 23:39:27, it reached 5YXMovm8Z2JASWreiJeriFmLRD6boowUeTQ3bEXUzJ5e, a sniper wallet roughly 3 months old that continued trading subsequent curves.
Another wallet, 3TZGk4HGMqUH6nwxjv1yerAf9JoinCqMGCE7mXLXjAKt, sent 77.49 SOL through the same proportional split: 19.37, 19.37 and 38.75 SOL.
The repeated pattern extends beyond buying and selling into how the proceeds are moved.
My system has also identified a separate group of 8 wallets that bought entire curves in a single block across 16 tokens between 17 and 22 September.
Each launch involved 82 to 90 SOL, followed by selling within 1 second of the pool opening.
Of those 16 tokens, 5 were called Jean.
Their creators were fresh wallets funded from KuCoin, Gate and Binance, used for 1 launch each and then emptied again.
These funding routes do not establish who controlled them, but the repeated launch behaviour matters. One of the 8 buyer wallets funded 619 accounts in 5 days.
This is what you are competing against when someone presents an instant graduation as evidence of demand.
In this example, 16 wallets completed the curve together, controlled most of the supply and began selling seconds after migration.
The evidence strongly points to coordinated automation; the wallet count tells you very little about the number of independent buyers.
A normal trader still has to discover the token, inspect it and submit a transaction.
These wallets have already bought the curve and started unloading by then.
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This is too important to disappear under a long investigation, so here is the short version for everyone who did not want to read the full thing.
For 5 days, I recorded almost every Solana token launch I could capture.
The system collected 145,228 launches, roughly 29,000 new tokens per day. Then I stopped looking at the tokens and started following the wallets behind them.
The first thing that stood out was concentration.
Just 10 addresses created 8,895 tokens in 7 days. The largest created 1,621, roughly 1 launch every 6 minutes, around the clock.
These are normal keypair wallets, not Pumpfun service addresses. One of them repeatedly creates a token and then sells its own token within seconds or minutes.
The economics explain why this is possible.
A launch requires roughly 0.0089 SOL of rent-funded account creation, around $1 at the observed price.
Much of that rent can later be reclaimed when accounts are closed. In other words, producing another token is effectively close to free. Once the cost of manufacturing the asset approaches zero, the scarce resource is no longer capital. It is attention.
Then it gets more interesting:
I followed the funding layer behind one creator and found another wallet that had funded 22,258 token accounts, repeatedly with the exact same 0.00148844 SOL amount.
In one transaction, it distributed the same token in the exact same quantity to 11 different wallets.
It shows something important: holder counts can be manufactured mechanically and cheaply. The wallet had spent about 33 SOL just funding the accounts behind those distributions.
I followed one of those recipient wallets further.
Its recent activity consisted of DFlow swaps between roughly 0.0551 and 0.0567 SOL, repeating every few minutes with almost no variation.
Based on the observed cadence, that single wallet would generate roughly 17 SOL of trading volume per day.
Extrapolated across the 11 wallets from that distribution transaction, the observed rate would be around 190 SOL per day. That second figure is an estimate, not a measured daily total, but the transaction pattern itself is directly visible on-chain.
So the structure I found looks like this:
-Layer 1 creates the asset.
-Layer 2 can manufacture the holder count.
-Layer 3 can manufacture activity and volume.
Those are 3 of the main signals retail traders routinely use to decide whether something looks alive, distributed and actively traded.
And this is not just 1 wallet cluster. I checked 6 of the top 10 creator wallets.
They were funded from different sources, including Binance, Bybit, OKX and unrelated wallets, with wallet ages ranging from 10 days to more than 1 year.
I could not establish a common operator between them. That actually makes the finding more interesting: this appears less like 1 operation and more like a repeatable business model that multiple independent operators have discovered.
One of those creator wallets was also receiving Axiom Rewards, meaning the generated trading activity can potentially create an additional revenue stream through trading-terminal incentives.
The metadata has the same factory-like fingerprints.
In the portion I had processed, usepaid-app appeared on 569 different tokens, elonmusk was claimed as the X handle by 73, and individual image files were reused across more than 50 tokens.
Only 13.8% of the relevant metadata had been processed at that point, so those are minimum counts, not estimates.
The trading results:
Across hundreds of thousands of measured entry points, only 8.0% were profitable after 30 seconds, 8.7% after 60 seconds and 12.8% after 120 seconds.
Average returns were negative at every one of those horizons. A realistic bonding-curve round trip cost about 2.47% through fees, spread and impact before the trader had even made a directional mistake.
My ultra-fast test entered within 12 seconds of launch and exited within 30 seconds across 1,771 different tokens. It still averaged -2.41% per trade, with only 108 winners. The underlying directional edge was about +0.06%. The friction was about 40 times larger.
There was even a trap inside my own data.
The 5-minute survivors showed a positive average return, but only 16.5% of the original observations still had a measurable exit price at that point.
The apparently bullish result was survivor bias. Most of the sample had already disappeared from the calculation.
The chain already shows that tokens can be produced at industrial scale for almost nothing, holder counts can be engineered, trading activity can be automated, metadata can be recycled, and the average retail trader entering these launches is fighting brutal execution costs and terrible base rates.
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MASTRlabs.com now averages around 600 unique visitors per day. By far the most visited part is the Wiki, especially the crypto timeline and the research collected there.
MASTRapps.com is averaging roughly 300 unique visitors per day. The apps themselves have already reached 4-figure download numbers without paid shilling, KOL campaigns, or big accounts constantly pushing them on my behalf.
Nobody large in this space is really helping me promote any of this, which makes these numbers even more surprising to me.
Years of tweeting, researching, building, and putting countless hours into MASTR have clearly paid off in terms of reach and visibility, even if financially it has been a completely different story so far.
When it comes to the apps, the main driver is still the original MASTR app on the App Store and Play Store.
By now we should be somewhere around 8,000 to 8,300 token checks completed for you. These are actual checks done by real people with experience, not some meaningless bot generating a generic score and pretending that qualifies as research.
Around 98% of those checks have been completely free, and only a small number of users have paid for anything so far.
I’m genuinely grateful to everyone using what the founder, the devs, the people helping behind the scenes, and especially over the last months, I have been building.
When this started, I honestly expected maybe 100 visitors a week.
Seeing numbers like this tells me there is real interest, that people actually find the work useful, and that continuing to improve and expand these tools makes sense.
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Coming soon: a full research piece on the Pumpfun launch factories. Every number, wallets all of it verifiable on chain.
Several gigabytes of raw data. 145228 tokens recorded in 5 days.
Here is only the trading aspect, not even the exciting part:
Speed does not save you.
Of 593313 measured entry points, 8.0% are in profit after holding 30 seconds, net of all costs.
The mean is -5.26%.
And the fastest entries were the worst: buying within 12 seconds of launch and exiting within 30 returned -2.41% per trade across 2000 different tokens.
The number everyone quotes, "5 minutes later it was up", exists for only 16.5% of the measured entry points.
The other 83.5% had no exit price left to measure: Dead.
This doesn’t apply only to Pumpfun tokens.
The pattern looks very similar across other Solana launchpads as well.
But don’t make the mistake of assuming other chains are somehow better. I simply chose to dig much deeper into Solana first.
Stay tuned for the article.
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I’d genuinely love some feedback on what I’ve been building.
If you have a few minutes, take a look at mastrapps.com and check out some of the apps I’ve been working on.
Most of them will end up on the @solanamobile dApp Store.
Getting a small independent crypto app into the bigger Google Play and iOS App Stores is obviously a different battle, but I’m working on that too.
My subscribers also get the APKs for the apps published through the dApp Store for free.
I’d also really appreciate people exploring the MASTR Knowledge Wiki: mastrlabs.com/knowledge
I am spending a lot of time pulling together years of my own research, articles and tweets, while also documenting crypto history as a timeline and building out pages around major events, projects, personalities, hacks, collapses, scandals and everything in between.
Click around, follow random links, break things if you can, and tell me what works, what feels confusing and what’s missing.
I’m trying to build something people can actually use and come back to, not just another crypto website that gets opened once and forgotten.
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Another one from me on the @solanamobile dApp Store.
MASTRsweep is live.
I built it for myself and have been using it privately for months.
It works, so I decided to make it available to every Seeker user.
And to my subscribers here: if you are on Android but do not own a Seeker, you get the app from me for free.
➡️ What it does to your wallet:
• Closes empty token accounts and returns the rent, about 0.002 SOL each.
Every token you have ever held left one behind. 30 accounts is roughly 0.06 SOL, 250 accounts is over 0.5 SOL, just sitting there.
• Sells leftover dust for SOL instead of throwing it away.
• Burns spam and phishing tokens.
• Revokes old token approvals that still let strangers move your tokens.
The part I care about most is Value Guard. I built it after a cleanup tool offered me a token worth 1000 $ to burn, sitting right between the scams.
Every token is now checked against 2 independent price sources and the higher value counts.
Anything above your limit is never burned and never sold. If a price cannot be verified, the token is locked instead of treated as worthless.
Verified tokens, protected tokens and NFTs are never burned, and every value is checked again right before you sign.
Dust sales are never a blind signature either.
MASTRsweep builds every transaction itself and rejects it unless it uses approved programs only, touches no other token account of yours, grants no approvals and guarantees a minimum amount of SOL.
Non custodial, your keys never leave your wallet.
No account, no tracking, no stored user data.
Available in 7 languages.
Seeker users: grab it in the dApp Store.
Subscribers, send me a DM.
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I’m different from most accounts here. I know that.
I don’t think people realise how rare genuinely independent accounts of any real size have become on CT, or how badly this space still needs them.
Well.
What still surprises me sometimes is how much agreement I get despite being almost the opposite of what usually gets rewarded here.
I rarely bite my tongue, I don’t adjust my opinions to fit whatever narrative is paying this week, and I’m perfectly willing to criticise people, projects or trends that much larger accounts would rather stay quiet about.
Maybe that is precisely why some people still listen.
At this point, I genuinely struggle to name many sizeable accounts that don’t have some kind of deal, sponsorship, allocation, advisory role, private relationship or other financial incentive somewhere in the background.
That does not automatically make someone dishonest, but it absolutely changes the incentive structure, and pretending otherwise is naive.
If you refuse paid narratives, shill deals, fake conviction and the quiet sale of your credibility, you also walk away from most of the easiest ways to monetise an audience in crypto.
Independence sounds noble until you realise that, in practice, it often means doing more work for no money while watching people with far fewer scruples get rewarded for turning trust into inventory.
That is probably why so many genuinely independent voices eventually disappear.
They get sidelined, exhausted or simply decide that spending years researching, warning people, exposing scams and building useful things while everyone else monetises attention is a terrible economic decision.
What I find harder to understand is how little interest there often seems to be from the people, protocols and companies that actually have the resources to support the healthier side of CT.
Especially from those who were here early, benefited enormously from this ecosystem and still claim to care about what it becomes.
If this space gave you wealth, reach or opportunity, there is something deeply shortsighted about watching the independent researchers, builders, critics and educators disappear while the marketing/ casino machine gets stronger every year.
I’m different from most accounts here. I know that.
I can be uncomfortable, stubborn and very direct, and I have never been particularly interested in making myself easier to monetise.
Still, I’m trying to find a way to make this sustainable and justify the time I spend here alongside family and a real-life job. But at some point the numbers simply stop adding up.
But I also think that is exactly why accounts like mine should exist.
Let me say it:
You cannot spend years rewarding people for selling influence, starving the ones who refuse to do it, and then wonder why every timeline eventually starts looking like an advertising feed with opinions attached.
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I learned very early, and life has confirmed it again and again, that appearance and origin tell you remarkably little about a person’s character, ability or intentions.
Behaviour does.
Some of the ugliest KOL rugs, drainers and extraction schemes this industry has produced came from polished Americans, well connected Westerners and people from all over the world who later ended up operating comfortably from Dubai.
Nice teeth, white skin, expensive watches, perfect English, good lighting, large following. None of that stopped anyone from robbing people.
So if Arc fails, fine. I am happy about it. I have no emotional attachment to Arc and I will criticise it where it deserves criticism.
What I find fucking bizarre is watching people suddenly treat the chain as suspicious because some of the devs and early users do not look like the usual white, camera ready crypto supermodels they are used to seeing on their timeline.
You idiots are scared of how some developers look while BlackRock, Mastercard, Visa, DTCC, ICE, Circle and half of the old fiat establishment are sitting behind the network, and somehow that gets less attention than someone’s face, accent or nationality.
That is insane.
People will analyse a developer’s skin colour, passport and appearance like forensic evidence, then see BlackRock and Mastercard embedded in the infrastructure and barely react because those logos look respectable.
If you actually care about risk, look at who controls the infrastructure.
Look at who validates the network. Look at who controls the stablecoin.
Look at who can freeze assets. Look at who got early access. Look at who sets the rules and who captures the value if this thing scales.
Those are real questions.
Whether a developer looks like the kind of person you would expect to see selling you a Solana memecoin on X is completely irrelevant.
A space that spends all day talking about permissionless finance should probably stop judging credibility like a fucking beauty contest.
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This Is A Warning.
Arc is the old system, moved onchain.
Look at who is behind it.
Circle. BlackRock. DTCC. Visa. Mastercard. ICE. Standard Chartered. Galaxy. MoneyGram. SBI. Sumitomo. BNY. HSBC. State Street. Société Générale. Commerzbank. Add Aave, Morpho, Uniswap, the major exchanges, Chainlink, Ledger, Alchemy and the rest of the infrastructure stack.
That is institutional finance arriving with its own validator set, its own stablecoin, its own governance path and eventually its own native token.
The important part should not be whether Arc pumps. The important part is what $Arc represents.
USDC is the gas asset.
Circle still controls USDC at the issuer level and can freeze it.
Validators are selected institutions.
ARC has already been privately sold to major investors. 10 billion ARC have now been minted, while no public token launch has even been promised.
The people securing the network, funding the network and shaping the network are largely the same class of institutions crypto was supposedly created to route around.
Again: The parties securing the network are currently selected institutions.
From a bank’s perspective that is almost certainly part of the attraction.
Known validators, predictable governance and regulatory accountability make Arc easier to put in front of a compliance department.
From a crypto perspective, however, it creates an obvious question about how much decentralisation people are actually getting.
And yet people will call this decentralisation because the transactions happen on a blockchain.
Robinhood already showed where this is going.
Now Circle is building an even cleaner version of the same idea: take crypto infrastructure, remove as much uncertainty as possible, wrap it in institutional control, regulated stablecoins, approved validators and compliance-friendly privacy, then connect the entire thing back into the existing financial system.
Crypto adoption is absolutely happening. There is barely any serious argument left about that.
The mistake is assuming adoption means the old system disappears.
What we are actually watching is crypto being absorbed by it.
Banks, asset managers, payment networks and market infrastructure companies looked at blockchains and realised they do not need to destroy them.
They can use them. They can tokenize assets, settle faster, move dollars globally, automate markets and reduce costs while keeping the parts they care about most: control, identity, compliance, permissioning and legal enforceability.
That is why Arc matters far more than another L1 launch.
The battle is no longer between crypto and traditional finance. Traditional finance has already decided it wants the rails.
The real question is what remains of crypto once the rails belong to the same institutions again.
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Some of you spent fucking years explaining that crypto would make the old financial system irrelevant, only to discover that your conviction expires when the US Senate fails to advance a bill.
Today, the CLARITY Act failed a procedural vote, with 49 senators in favour and 50 against, short of the 60 required.
That is a serious legislative setback. It does not mean Congress banned crypto, and this was not a vote on final passage.
Understanding what actually happened would seem like a reasonable prerequisite for having an opinion loud enough to trade on.
We are also talking about the United States, a country of roughly 343 million people on a planet of approximately 8.3 billion.
Around 4% of humanity.
Its financial markets and dollar system give it (still) influence far beyond that share, obviously, but the remaining 96% do not disappear because Washington cannot agree on legislation.
Watching people promote a borderless financial system while treating the US legislative calendar as its fucking life-support machine is quite something.
And spare me the sanitised version of why this became politically poisonous.
Trump has been pushing legislation affecting an industry from which he and his family have substantial financial interests.
Billions in earnings from the family’s crypto ventures.
Concerns about those conflicts deserve scrutiny, however inconvenient they are for your portfolio.
You cannot spend years complaining about a rigged financial system and then applaud presidential self-interest because you think it might pump your bags.
The disputes also involve stablecoin rewards, competition for deposits and the adequacy of ethics restrictions.
Reducing all of that to “they hate crypto” is what happens when your political education comes from people with referral links and token allocations.
Calling a bill “clarity” does not make every provision good, and calling a politician “pro-crypto” does not make his financial conflicts harmless.
Of course regulatory delays can affect valuations.
If your position depended on near-term passage, reducing exposure can be coherent.
What deserves ridicule is preaching a 10-year technological revolution while managing your conviction on a 10-minute headline cycle, then pretending the panic is sophisticated analysis.
Sell if your thesis changed.
But if you cannot identify which assumption changed beyond “the timeline looks scared,” spare everyone the performance about understanding the future of finance.
You outsourced your conviction to the same people who sold you political access as technological progress.
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Your favourite KOL can get paid to tell you what to buy, secure a cheaper entry through private deals, then have copy traders pile in after him and push his bags higher while you stare at his green wallet wondering why you’re still fucking losing.
KOL deals can include discounted token prices and earlier selling opportunities, sometimes from launch day.
Your entry and theirs can be fundamentally different before either of you places a trade.
Humanity Protocol’s promotional documents went as far as instructing trader KOLs to buy publicly after launch to demonstrate commitment.
A public buy looks considerably less convincing when it is part of an agreed marketing assignment.
See "KOL deals and promotional instructions" coindesk.com/business/2024/0…
Launchpads participate in these arrangements too.
Citizend required its KOLs to promote the project while leaving disclosure to them.
It does show a launch platform requiring promotion without contractually requiring the audience to be told about the arrangement.
See "Citizend’s arrangements" coindesk.com/business/2024/0…
And paid recommendations can carry serious money.
As example, Kim Kardashian received $250,000 for an EMAX Instagram promotion without disclosing that payment, according to the SEC’s findings.
She settled for $1.26 million without admitting or denying them. "Original SEC release" sec.gov/newsroom/press-relea…
Referral income adds another incentive.
Trojan advertises referral rewards of up to 35% and a structure spanning 5 layers.
Its PnL cards can be shared alongside referral codes, turning a profitable screenshot into a recruitment tool. Referred users generate trading fees even when their trades lose money.
See "Referral rewards" docs.trojanonsolana.com/tele…,
and "PnL cards" (docs.trojanonsolana.com/tele…
Put those incentives together and the potential goldmine becomes obvious.
Someone involved in a campaign knows what will be pushed.
If they enter beforehand, then followers and copy traders buy into limited liquidity behind them, that demand can push the price higher and provide an opportunity to exit.
The resulting green screenshot can attract the next wave of buyers who interpret the performance as trading skill without seeing what helped produce it.
Newer launchpads deserve no credit for recycling those arrangements under fresh branding.
If preferential access, paid shilling and undisclosed relationships remain, the conflict remains.
A wallet can show real profits while giving you a completely misleading impression of how repeatable they are.
When someone’s advantage depends on the private deal you never received and the buying pressure you help provide, copying their wallet puts you on the paying side of their advantage.
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