PANews reported on February 19 that according to The Block, blockchain analysis platform Bubblemaps claimed in a social media post on Tuesday that according to its analysis, anonymous cryptocurrency trader Naseem is the account that made a profit of US$109 million by trading the Meme coin TRUMP.
According to research conducted in conjunction with YouTube blogger Coffeezilla, Naseem successfully “sniped” the TRUMP token shortly after its launch. On-chain data shows that an address starting with 6QSc2 was used to first purchase $1.09 million worth of tokens, which were then dispersed into at least nine wallets.
While the study can’t conclusively prove that Naseem was ultimately behind the trading activity, the Bubblemaps team wrote in the report that circumstantial evidence suggests “too many connections to ignore." Bubblemaps allowed Naseem to respond to questions about potential insider trading, which he denied. While he was able to buy more than $1 million worth of TRUMP tokens within the first second of trading, in part by paying an $84,000 priority trading fee, Naseem said he was not directly informed of the timing of the token launch.
