Citing ChainCatcher, blockchain analytics firm Bubblemaps reported that Edel Finance’s EDEL token sale on November 12 saw over 30% of tokens—worth around $11 million—purchased by 60 wallets linked to the project. Co-founder James Sherborne did not deny the claims, stating it was part of a planned 60% token allocation to a vesting contract, though no public record or mention on the official tokenomics page was found. Tokens were moved through multiple wallets and Uniswap liquidity pools, a tactic often used to obscure transaction trails. Sherborne did not explain why a purchase method was used instead of direct contract transfers. Edel Finance did not respond to requests for comment.
Edel Finance Token Sale Faces Scrutiny Over Alleged Pre-Minted 30% Token Grab
KuCoinFlashShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.