XPL flash crash manipulator previously orchestrated a chain of operations involving FARTCOIN and other coins, with funding links highly overlapping with a suspicious team from April.

BlockBeats news, November 2 — TradingBeats, through cross-month, multi-address, and cross-chain tracking, successfully locked onto a funding trail spanning 7 months: a high degree of overlap in fund trajectories has emerged between the old funding network behind April's XPL flash crash and the members involved in yesterday's November 1 market manipulation and liquidation. Currently, one fund has been traced transaction by transaction to April's manipulation team.

Tracking revealed that the fund trajectories showed a high degree of overlap within a centralized exchange hot wallet: shortly after the old funds were deposited, the new group's upstream withdrew a USDT amount with special order-splitting characteristics from the same address, corresponding exactly to the two rounds of manipulation addresses.

Previously, TradingBeats reported on two "margin withdrawal and concentrated liquidation" incidents with highly similar characteristics.

Data shows that after this group's addresses go dormant for a period and become active again, they tend to engage in cross-period manipulation. That is, after completing the first round of operations, they often quickly seek another token to replicate the same tactics. Tracking this hidden cross-period funding trail may allow their next target to be locked in advance.

The tactics are identical — "suicide liquidation"

On April 3, XPL surged and then flash-crashed. XPL rose about 42% in the early morning, reaching a high of $0.167, then plunged more than 40% within minutes around 5:10. Five addresses deposited funds in advance to build long positions, withdrew margin after unrealized profits expanded, and were then concentratedly liquidated; during the rally, another large short position of about $32.99 million was liquidated.

The five early addresses had cumulative visible deposits of about $1.256 million and withdrawals of about $2.86 million, with cumulative withdrawals exceeding deposits by about $1.604 million.

On April 9, FARTCOIN showed a similar process. At that time, FARTCOIN rose about 57% over three days, reaching a high of $0.252, then quickly plunged around 7:00, with a cumulative decline of more than 26%. Six addresses were at