Trader Turns $95 Into $96.9K Trading $INCEPT, Suspected Insider Activity Uncovered

In a remarkable trading move, a savvy trader—likely an insider—managed to turn a mere $95 into $96.9K by trading $INCEPT, a newly launched token.

The trader made their initial purchase immediately after the token’s launch at 18:11 UTC yesterday and has since sold all holdings.

Just one minute after their buy, at 18:12 UTC, large purchases from Smart Money wallets followed, which propelled $INCEPT to soar by 2,000%.

🧐 A trader, likely an insider, turned $95 into $96.9K by trading the $INCEPT token

Address – https://t.co/HIHdDb6b7U

He bought the tokens immediately after their launch yesterday at 18:11 UTC and has already sold everything. Notably, large purchases from Smart Money began at… pic.twitter.com/Lpv72IYXiq

— ArbitrageScanner (@ArbitrageScan) September 26, 2024

Many wallets that reaped nearly 1,000x profits on $INCEPT appear suspiciously tied to insider trading. These wallets were created just four days prior and have exclusively traded $INCEPT, raising questions about potential coordinated activity around the token’s launch.

Unbelievable!😱

Turned $95 into $96.9K in just 12 hours—more than a 1000x return!

Many of the wallets that made ~1000x profit on $INCEPT appear to be insider wallets. They were all created 4 days ago and have only traded $INCEPT.https://t.co/AvNHFbRjpO pic.twitter.com/aOm3z1VXAx

— Lookonchain (@lookonchain) September 26, 2024

What Is $INCEPT?

$INCEPT is a collection of 10,000 unique “variants” connected to the first tokens built on the experimental ERC-4D standard. This new dual-root token standard introduces the idea of “dimensional tokens,” a breakthrough concept in blockchain tokenomics.

How Does $INCEPT Work?

1/ ✦ What is $INCEPT?

A collection of 10,000 “variants” bound to the first tokens built on ERC-4D, an experimental dual-root token standard that introduces the concept of dimensional tokens. pic.twitter.com/5VzrBcj1zO

— Incept (@Incept_ERC4D) September 25, 2024

The $INCEPT token integrates the functionalities of both ERC-20 and ERC-6551, enabling it to function as a tradable asset while also acting as a wallet, known as a liquid token-bound account. This allows an INCEPT token to hold other assets, including additional tokens, NFTs, data, or even other $INCEPT tokens, unlocking a concept known as on-chain inception.

Unique Features

One of the most intriguing aspects of $INCEPT is its Grandfather Paradox mechanism. Here, the ERC-6551 token account owns the original ERC-20 token that created it, establishing a cyclical ownership loop that adds a new layer of complexity and use cases for the token.

Additionally, the ERC-4D standard utilizes a deque architecture, where the ERC-721 NFT component operates as a double-ended queue, allowing both FIFO and LIFO processes, offering greater flexibility in asset management.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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