Frenemy Play? Pump-and-Dump Group Acquires FRIEND Before Rug Pull, Transfers $500,000 Worth of Tokens, with Buying Cost Around $16.7 Million

BlockBeats News, August 27th, according to TradingBeats (formerly Hyperinsight) monitoring, Whale previously invested 5200 ETH to purchase the FRIEND token, which is now only worth $500,000.

Today, they proposed to acquire Friendtech for $1 million and relaunch the protocol. As a result, the FRIEND token briefly surged 15x. On-chain data shows that 5 days ago, they had already transferred 11 million FRIEND tokens to the wallet 0x3205c07eb8d4f59fa709d64ca68c51d427094be4. However, as of the time of writing, the transferred tokens have not been sold.