Bubblemaps, an on-chain transaction analytics platform, has raised concerns about potential insider trading within the ATLAS memecoin project. According to a report published on December 28, 68 wallets, which previously showed no on-chain activity, acquired a significant portion of ATLAS tokens through ChangeNow before the project's official launch. These wallets now collectively hold 47% of the token supply, valued at $1 million.
The ATLAS project, inspired by US Vice President JD Vance's pet dog, has been promoted by key opinion leaders on social media. The concentration of tokens in a few wallets suggests possible insider trading, raising questions about the project's transparency and fairness.
ATLAS Memecoin Faces Insider Trading Allegations as 68 Wallets Control 47% Supply
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
