Cysic TGE controversy intensifies, large-scale token manipulation suspected

Concerns are growing in the market following the Cysic token generation event(TGE). Blockchain analysts have uncovered large-scale token concentration activities exceeding $20 million.

Scale and Patterns of Suspected Manipulation

According to investigations by multiple analysts, 12-20% of the circulating supply of tokens exhibit intentional trading patterns. Notably, hundreds of newly created wallets display highly similar transaction behaviors. These wallets repeatedly perform small dispersed transactions while forming tightly connected structures on the network, making it unlikely to be merely individual investors’ activities.

Community Analysis and Evaluation

On-chain analysts, including KOLs Morsy and Crypto_Painter, point out that these circumstances suggest an organized token distribution system. The interaction patterns among wallets indicate that a pre-planned trading strategy is in operation.

This points to possibilities beyond simple whale activities, such as automated trading mechanisms based on hardware acceleration or systematic manipulation through bots. Such technical methods can undermine market transparency and disrupt normal price formation.

Impact on the Market

This incident has renewed attention on the transparency of token distribution during the TGE phase. Investors need to scrutinize the token distribution structure and the composition of initial holders more carefully when selecting projects.