I used to see those "coincidental transfers" on the blockchain and would imagine: is it the same person using a clone technique... Now I’m more used to breaking down the path first: where does the money come from (CEX withdrawal? Bridge? Mining pool?), what happens in the middle (aggregator, routing, currency exchange, then split), and where does it end up (cold wallet, contract, back to the exchange). Many "coincidences" are actually just the same set of tools moving assets around; the addresses look unfamiliar, but the actions are quite consistent.

Recently, the staking/sharing security model has been criticized as a "yield nesting," and I think it’s quite similar on-chain: layers stacking more and more, and in the end, everyone only remembers the APY, not how many times the money has circled. Anyway, I now prefer to guess less about conspiracies and focus more on drawing the roadmap; after drawing it, I feel more at ease.