Recently analyzing on-chain address profiles/tag clustering, the more I look, the more it feels like sticking sticky notes on strangers: smart money, institutions, whales… Basically, it's just weaving a story from a bunch of transfer traces to help us get into the mood. Fund flows are certainly useful, but "who" is really moving them isn't that clean—sometimes it's just the same group of people swapping a few aliases and throwing mud at each other.

How much can you trust address profiles?
They can serve as signposts, but not as a passport.

What's even more outrageous is that while hardware wallets are out of stock, phishing links are everywhere. People talk about security, but their fingers still click away quickly… I don’t dare to laugh either. A few days ago, I almost got tricked into signing a “airdrop claim” scam. Anyway, now whenever I see “connect wallet,” I close the webpage first—better to miss out than to risk a lesson learned the hard way. That’s all for now.