- The co-founder of Pump.enjoyable mentioned Lookonchain’s report is deceptive.
- Lookonchain has sounded the alarm on the motion of Pump.enjoyable’s ICO funds.
- Sapijiju mentioned the switch of ICO funds is a part of Pump.enjoyable’s administration course of.
Sapijiju, the nameless co-founder of Pump.enjoyable, dismissed a report by crypto evaluation platform Lookonchain that claimed the blockchain undertaking was cashed out in a latest ICO. In accordance with Sapijiju, Lookonchain’s put up amounted to “full misinformation.”
Pump.enjoyable Suspicious ICO fund motion
On Monday, November twenty fourth, Lookonchain posted on In accordance with the analytics platform, 537.6 million USDC was leaked from Kraken to Circle by way of particular wallets throughout this era.
Lookonchain additional famous that from Could 19, 2024 to August 12, 2025, Pump.enjoyable bought a complete of 4.19 million SOL (equal to $757 million) at a mean worth of $181 per token, of which 264,373 SOL was launched on-chain for $41.64 million and three.93 million SOL was dissipated into Kraken.
Reviews like this by Lookonchain often spark a dialogue throughout the crypto ecosystem, with a number of crypto group members providing theories concerning the causes behind Pump.enjoyable’s transfer.
Associated: Pump.enjoyable acquires Padre to hurry up multi-chain transactions on Solana and EVM
Nothing however a daily routine
Regardless of the widespread suspicions, nearly all of discussants didn’t doubt Raghupur. Quite, some suspected it was a type of manipulation wherein the undertaking crew moved funds round to make a revenue.
In the meantime, Sapijiju categorically denied the rumors of manipulation by way of X’s official account. In accordance with him, the fund transfers that Lookonchain observes are a part of the undertaking’s monetary administration procedures. Sapijiju mentioned this course of will contain transferring the USDC acquired through the Pump ICO to a different pockets in order that the corporate’s runway could be reinvested into the enterprise. He additionally clarified that Pump.enjoyable has by no means labored instantly with Circle.
Associated: Pump.enjoyable Worth Prediction: Patrons step in as undertaking expands buybacks, however trendline limits restoration
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