Shiba Inu (SHIB) Founder Obscures Holdings Again Through Wallet Shuffle – Expert

The pseudonymous founder of Shiba Inu appears to be undertaking further efforts to dissolve their massive holdings and evade tracking, according to blockchain analysis firm Bubblemaps.

Bubblemaps previously identified a cluster of wallets traced back to a single entity that purchased 100 trillion SHIB right after launch, representing the founder’s original stash. Following this exposure, they received an anonymous message to remove the analysis, claiming it provided an attack blueprint.

Shortly after, two key wallets – 0x1406 and 0xc1ca – began slowly emptying by transferring SHIB in chunks to over 20 newly created wallets. 0x1406 was the primary wallet that had acquired the 100 trillion founding tokens.

By draining these two wallets, Bubblemaps concludes that the founder aims to fully obscure the original SHIB cluster and founder links. Removing these core wallets makes the overall distribution appear more decentralized to outside observers.

But Bubblemaps contends that their analysis reveals the founder’s ongoing intentions to mask the extent of their holdings through complex wallet shuffles. Even as the cluster transforms, on-chain forensics can continue unraveling money flows.

The subterfuge illustratesextent to whichxtent founders must go to conceal affiliations and manage perceptions after a token gains massive value. But blockchain transparency makes covering one’s tracks an endless cat-and-mouse game, with sleuths quick to detect sham decentralization.

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.