Kimchi-Linked Wallet Buys STAR for $407, Sells for $45.6K Minutes After Deployment

According to blockchain sleuth Specter, on May 30, 2024, Kimchi-linked wallet (publicly shared on X in April 2024) bought 2.96 SOL worth of STAR tokens one minute after deployment and sold them for $45,600, generating a 112x return.

Specter's monitoring identified a similar pattern across multiple tokens. On June 11, the wallet purchased DADDY ANSEM tokens for $730 (4.94 SOL) two minutes after deployment and sold for $14,600. On June 26, it bought MUVA tokens for $407 (2.9 SOL) one minute after deployment and sold for $53,000. Specter noted that a centralized exchange deposit address cluster revealed five additional wallets participating in the same MUVA launch bundle trades.