This smells like potential manipulation — maybe from a dev, someone trying to simulate token activity, or create artificial volume on-chain.
Any thoughts or deeper insights from the community?
Freebitco team was using that address as the cold wallet address for keeping their funds. They had huge amount of funds (BTC, ETH and FUN tokens) in that address just one year ago (
check here). They have moved all those funds from that address though, but now it looks like they are just transferring the deposited funds of the users in that address.
- Most of the transactions are from accounts created over 1400 days ago (based on Binance registration data).
- Nearly all transfers are of similar FUN token amounts.
The reasons are pretty clear here. Freebitco premium membership benefits were introduced 4 years ago (1400+ days). This is the time since when users started to deposit FUN tokens on Freebitco. And the amount is similar as the users were making the deposits of a certain amount for having specific benefits of premium membership.