Today I saw someone say again, "Why do these two addresses keep coincidentally transferring back and forth," my first reaction wasn't conspiracy theory, but to pause and stop trending it... On-chain, these kinds of "coincidences" often just mean the path hasn't been broken down: A withdraws from CEX to a relay, batches are collected, then split through routing contracts, and finally gets caught by MEV. If you only focus on the start and end addresses, you'll think it's mystical. To put it simply, aligning timestamps, checking who came first in the same block, then following internal transactions/logs to fill in the jumps, can generally be explained as "saving fees / accessing deeper liquidity / forced slippage." By the way, it reminds me of the recent heated debate over NFT royalties, everyone is watching whether creators make money or not, but secondary liquidity is stuck, and routing and slippage are also voting with your feet... Anyway, when I encounter "coincidental transfers" now, I first pause and watch for three minutes, don't rush to screenshot as evidence.