Last night, I saw a string of “coincidental transfers” on-chain: one moment A sends to B, and then B loops back to C. At first glance, it looks like it’s all being washed and re-washed. Later, I forced myself to trace the path. In fact, it’s basically a cross-chain bridge → an aggregator → an exchange’s hot wallet → and then redistributed to a few small accounts. When the timing is so tightly packed, it starts to feel almost mystical. Plainly speaking, many of these “coincidences” are just the result of a process that’s too long and involves too many nodes.

Recently, more new L1/L2 networks have been issuing incentives to boost TVL. In the group chat, veteran users complain about “mining-to-withdrawal-and-selling.” I can understand it too. After going around on-chain, it’s essentially the same set of routes being reused. Back then, when I didn’t understand it, I didn’t move. I got an urge and wanted to follow up with a transaction—when I tapped confirm, it got canceled… Forget it. I’ll keep the screenshot and wait for it to look back at itself.