That was really just a false alarm earlier... When transferring across L2, I copied the wrong address, and only realized the suffix was incorrect after clicking confirm. I quickly withdrew and started over, my heart pounding. Also, I reminded myself: don’t always focus on the “narrative,” first see where the project team is actually spending their money.

Now, the most straightforward way I judge whether the team is working seriously is twofold: whether the treasury expenditures are paced properly, and whether the milestones are being met. Frankly, money is the most honest log: whether they are continuously paying for development/audits/infrastructure, or just making large payments to “consultants/marketing” for a while, and whether on-chain activity remains the same. Don’t just look at PPTs for milestones; see if they can deliver on time, whether the number of users increases after delivery, and if costs are becoming more reasonable.

Recently, some people have been complaining that on-chain data tools and tagging systems are lagging and might even mislead, and I agree. So I prefer to manually check a few treasury transfers to trace the flow of funds. By comparing real transaction numbers and fees, I feel more at ease. That’s it for now, to avoid being led astray by labels.