Kimchi Wallets Linked to Token Issuances and Rug Pulls

On-chain analysis links influencer kimchi to multiple token issuances, bundled transactions, and rug pulls, with rapid buy-sell cycles yielding significant profits on several assets.

Woofun AI reports that wallet activity associated with internet personality kimchi indicates involvement in multiple token issuances, bundled transactions, and rug pulls. Data reveals a pattern of acquiring tokens immediately after deployment and selling at elevated prices. On May 30, 2024, the wallet purchased 2.96 SOL for approximately $407 one minute after STAR token deployment, later realizing around $45,600. On June 11, it bought 4.94 SOL for roughly $730 two minutes post-launch of DADDY ANSEM, selling for about $14,600. On June 26, it acquired 2.9 SOL for approximately $407 one minute after MUVA launch, selling for nearly $53,000. Specter noted no verifiable evidence supporting kimchi's claim of earning over $40 million from TRUMP.