According to on-chain analyst Ai姨 (@ai_9684xtpa), the $ESPORTS token experienced a 92% flash crash, suspected to be linked to DWF Labs. Five days ago, the address 0x7Ef…C10dD deposited 19.9 million ESPORTS tokens (valued at $13.9 million) into a Kraken address associated with DWF. The upstream funds of this address originated from the token’s deployment address, which was also one of the key addresses driving the flash crash through high-frequency on-chain sell-offs.
DWF Labs Linked to ESPORTS Token Flash Crash Amid $13.9 Million Deposit to Kraken
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Summary
A flash crash in $ESPORTS tokens triggered a 92% price decline, with on-chain data implicating DWF Labs. Five days earlier, address 0x7Ef…C10dD deposited 19.9 million ESPORTS tokens ($13.9M) into a Kraken address associated with the firm. The upstream address is linked to the token’s deployment and prior aggressive selling. Traders are now monitoring altcoins for similar on-chain activity.
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