Social fryer! The founder of Whales Market transferred all 160,000 SOL raised to Binance

Recently, there has been a wave of craze in the Solana ecosystem similar to the ICO fundraising SOL issuance of meme coins. Among them, one of the most eye-catching fundraising cases this week came from dexter, the founder of the decentralized over-the-counter trading platform Whales Market. According to reports, in just half an hour on the evening of the 18th, he successfully raised more than 155,000 SOL, quickly exceeding the fundraising limit. This incident sparked widespread discussion in the industry and drew attention to the development of the Solana ecosystem.

dexter transferred the raised funds to Binance to sell?

However, just as the pre-sale investors were happily waiting for the project to issue coins, someone in the community discovered based on Solscan data that dexter actually used the 159,802 it raised around 18:00 on the evening of the 19th. All SOL was transferred to the exchange Binance and part of it was sold, which immediately caused an uproar in the community.

dexter transfers SOL to Binance address

How does dexter explain

For his own operation, dexter later on X The platform explained that part of the SOL raised was sold and exchanged for stable coins in order to avoid the decline of SOL tokens, which would lead to a shrinkage of funds: except for refunds that exceed the fundraising limit, the remaining funds will be transferred to Binance, and part of the SOL will be exchanged for stablecoins. into a stable currency to prevent the SOL token from shrinking significantly. This is a large amount of money, so we will allocate it appropriately so as not to disappoint those who trust us...

Community scolded: Using retail investors' money to do swings

dexter's behavior was exposed Afterwards, it instantly caused a commotion among investors, and dexter’s explanation did not convince the community. Many investors expressed doubts and dissatisfaction in the comments below his tweet.

SOL suffered the most serious decline among the top ten tokens yesterday, so some people questioned that dexter was one of the culprits of the market crash.

We remind investors that there have been many such fundraising projects on the Solana chain recently, accompanied by huge uncertainty and violent fluctuations. Investors must be careful in their judgment.

WHALES fell to $1.7

Similarly, perhaps because investors were disappointed with dexter, the Whales Market token of dexter's trading platform fell to $1.73 late yesterday, the largest drop in half a day. Nearly 20%.

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