Today I saw someone say that the on-chain “coincidental transfer” looks like insider involvement. My first reaction was: don’t start making up stories—trace the path first. In many cases, it’s just CEX hot wallet fund aggregation → splitting across intermediate addresses → cross-chain bridge/aggregator → contract interactions, and finally ending up in the hands of a few familiar people. It looks mysterious, but it’s actually the process that tricks people. If you really want to nitpick, look at a few points: whether the same batch of funds keeps moving back and forth across different addresses, whether there’s a clear increase in the end-stage concentration of holdings, and whether there’s any “early positioning” before the unlocking/releasing happens. Recently, I can also understand the backlash against that staking “stacking of yield” strategy—people call it a copycat “doll” scheme. I get it: once the on-chain route gets more complex, it becomes even easier for the narrative to be used to fool people. Anyway, I’m used to doing redundant backups now: I’ll put the conclusion first—“maybe it’s just routing”—instead of immediately putting all my emotions into it.

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