A suspected insider wallet purchased 2 million FRIEND tokens ahead of the token’s sharp rally, netting an estimated profit of $46,000.
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According to Lookonchain monitoring, after Machi (@machibigbrother) offered $1 million to acquire Friend.tech, the FRIEND token price surged nearly 30 times at one point. A wallet suspected to belong to an insider, 0x2078, which had been inactive for six months, spent 1.88 ETH (approximately $4,700) to purchase 2 million FRIEND tokens right before FRIEND’s price rally. The wallet subsequently sold all its tokens for 20.25 ETH (about $50,800), generating a profit of 18.37 ETH (roughly $46,000) — a return of nearly 10 times. Earlier, Machi had lost over $16 million on FRIEND tokens. Following the announcement of the acquisition news, FRIEND’s price experienced significant volatility.
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