Bubblemaps alleges hidden-wallet abuse among crypto influencers

Bubblemaps has accused crypto influencers of using hidden wallets to profit from their followers, calling on launchpads to audit leading traders and ban repeat offenders as it prepares to identify another prominent figure. Summary Bubblemaps alleges public trading wallets attract followers while undisclosed addresses sell tokens. The firm says promotional rewards and leaderboards encourage traders to exploit their audiences. Previous investigations examined alleged activity involving Ethan, Anglio, Solstice and Kimchi. Its latest post promises another investigation but does not identify the influencer involved. Bubblemaps outlined the allegations in a Nov. 6 post on X, arguing that social trading’s promise of transparency has been undermined by traders keeping parts of their activity out of public view. The blockchain analytics firm described a recurring combination of public wallets, hidden selling addresses, paid token recommendations, and coordinated purchases spread across multiple wallets. “One of crypto’s largest KOLs has been secretly extracting millions from his audience,” it alleged, adding that it would identify the person soon. One of crypto's largest KOLs has been secre...