On-chain analyst Specter said wallets linked to the promotional influencer kimchi were involved in multiple token launches, bundled trading, and rug pulls. According to Foresight News, the analysis found the wallet cluster often bought tokens within minutes of deployment and later sold them at higher prices.
Examples cited include STAR, which was bought for 2.96 SOL within the same minute of its deployment on May 30, 2024, and later sold for about $45,600; DADDY ANSEM, which was bought for 4.94 SOL two minutes after deployment on June 11 and later sold for about $14,600; and MUVA, which was bought for 2.9 SOL one minute after deployment on June 26 and later sold for about $53,000. Specter also said no verifiable evidence was found to support the claim that kimchi made more than $40 million from TRUMP.