Specter: InfoFi project BILL suspected of being a scam, token down about 97% from its peak

BlockBeats news, October 18: On-chain detective Specter retweeted a tweet warning the community that the InfoFi project BILL is suspected to be a scam. The price of the Billion (BILL) token has fallen about 97% from its all-time high. Over the past two months, 17 addresses that received tokens from team-associated wallets deposited approximately 988 million BILL to trading platforms. This week alone, another independent deposit address deposited approximately 360 million BILL to trading platforms, with the tokens originating from the project team's multisig wallet.

According to statistics, the cumulative BILL inflow to trading platforms over the past two months is approximately 1.35 billion tokens, accounting for about 13.6% of the total token supply, with an estimated value of approximately $15 million. The project team previously received approximately $30 million in financing from institutions including Coinbase Ventures and Polychain Capital.