An alleged insider trading wallet bought 2 million tokens just before the surge of FRIEND, making a profit of approximately $46,000.

BlockBeats News, August 28th, according to LookIntoChain monitoring, after Machi (@machibigbrother) offered to acquire Friend.tech for $1 million, the FRIEND token price surged by nearly 30 times.

After being dormant for 6 months, a suspected insider wallet 0x2078 purchased 2 million FRIEND tokens before the price spike, spending 1.88 ETH (about $4,700). The wallet then sold all the tokens for 20.25 ETH (about $50,800), making a profit of 18.37 ETH (about $46,000), almost 10 times the initial investment.

Prior to this, Machi had suffered losses of over $16 million on the FRIEND token. Following the announcement of this acquisition, the FRIEND price experienced significant fluctuations.