Today I saw another example of "coincidence transfers" on the chain: A just received money, and within a few minutes, it transfers to B, who immediately breaks it into a bunch of new addresses... At first glance, it looks like a performance. Later, I treat it like piecing together a collage: first checking if it's the same funds moving (amount, change, gas habits), then looking for obvious "disguise points" (entering DEX, crossing chain bridges, entering CEX hot wallets), and the path becomes less mysterious.

Recently, the community has been torn over privacy coins/mixing/regulated boundaries, and honestly, many "coincidences" are just risk control actions happening in the gray area; we only see fragments. I personally don't chase this excitement—keep smaller positions, slower pace, to avoid accidentally creating a mosaic. For now, I'll use annotation tools to mark out a few key nodes along this path.