Solana AI project Kled team wallets dumps $800k tokens after promising a $500k buyback plan
The post Solana AI project Kled team wallets dumps $800k tokens after promising a $500k buyback plan appeared on BitcoinEthereumNews.com.
Two wallets linked to Solana-based Kled AI (KLED) moved 58.25 million KLED out of an address between May 31 and June 7, then dispersed the tokens across 99 new wallets a few days after announcing a buyback plan. According to a June 10 report by Dashcoin Research founder Nicholas Wenzel, the amount moved was worth $800,000, which dwarfs KLED’s first public buyback of $50,000 announced on May 28. Along with the initial purchase, Kled AI pledged to continuously repurchase tokens from the market as part of a $500,000 buyback plan. On-chain analysis by CryptoSlate found that KLED-related wallets converted most of the tokens to USDC and sold approximately $221,000 via ChangeNow. On-chain relation between the wallets Wenzel claims that wallets Ejc28…1ax15 and FopPe…d3UMR have a relation with the team behind KLED. On-chain data suggests this relation, as KLED’s deployer first funded both wallets. Following the funding by the deployer address, the wallets received tokens from address 52T4z…kxyvJ, which Kled AI founder Avi Patel said on June 11 is the wallet responsible for liquidity provider rewards. Ejc28 received 30 million KLED and divided it amongst 56 wallets. However, only 27 of them received $10,000 or more. At the same time, FopPe received 28.25 million KLED and divided the amount among 41 wallets. As it happened with Ejc28, only 19 wallets received significant amounts of $6,000 or more. Wallets received funds from addresses FopPe (left) and Ejc28 (right). Image: Arkham The 46 wallets that received relevant amounts of KLED then started swapping the amounts for Solana (SOL). Crossing the token sales with KLED’s price chart showed that the average correction during sales ranged between 2% and 3%. After converting the amounts, another batch of swaps occurred, converting most of the KLED tokens into USDC. The process occurred between June 2 and June…
Filed under: News - @ June 16, 2025 9:19 am