On-Chain Tracking Meme "Token Factory": Sold Out in 3 Seconds, Millions Stuck With No Exit
Author: the_smart_ape
Compiled by: AididiaoJP, Foresight News
A single wallet sits idle with $1.0268 million in USDC, having never executed a single outgoing transaction. Its funds come from two collection wallets, which are backed by 32 issuing wallets continuously feeding it. Tracing up the capital chain, I uncovered a Meme coin conspiracy network of 43 wallets: bulk token creation, simultaneous block bundling, dump within seconds, followed by profit consolidation across multiple layers.
Since January 2026, this conspiracy network has issued over 6,855 Meme coins on Pump.fun and continues to do so.
Beginning with the Meme Coin 'fun'
The trail starts with fun, contract address: 7nRtEVneLhdc4L4dHyiExoSZoSMJx9VEBTr7wbmDpump.
On October 22, fun went live. It was created 8 seconds after a tweet was posted. The creator bought tokens, followed immediately by 3 other wallets in the same block. Four seconds later, the creator sold their entire position.
Unusually, the token did not immediately drop to zero. Ten minutes later, its market cap stood at approximately $150,000.
The creator and their bundled wallets profited 13.6 SOL from this token. They had already exited before the token took off.
So I investigated who this creator was, tracing the money downstream. Funds first flowed into collection wallets, were swapped into USDC, and then pooled into a single wallet holding millions. Behind that wallet were another 31 issuing wallets continuously funneling money.
43 Wallets, Clearly Divided Roles
The structure of this network is as follows:
43 wallets: 32 issuing wallets, 8 intermediary wallets, and 3 bundled wallets;
Issued over 6,855 Meme coins since January 2026;
2 collection wallets;
1 holding wallet: holds $1.0268 million in USDC, completely untouched.
The issuance rhythm has also changed. Before June, about 30 wallets issued tokens simultaneously; after July, only one issuer operated at a time. The current issuer goes by DRXPafDu and has issued 1,118 tokens from September 9 to date.
One Issuance, Five Steps
The process for each issuance is nearly identical:
The issuer creates the token and buys 10% to 15% of the supply in the same transaction.
Within the same block, 3 other wallets in the network follow with immediate buys.
External buyers enter: sniper bots, copy-trading bots, and retail traders who think they caught it early.
The issuer dumps their position. Median time: 3 seconds.
Profits first flow into collection wallets, then into the holding wallet.
The bundling is not random. I analyzed 160 issuances, and all 461 bundled purchases were concentrated in the issuance block. Ninety percent immediately followed the creation transaction, ranking 1st, 2nd, and 3rd; not a single one appeared in subsequent blocks.
This indicates that the token creation and the 3 follow-up buys were submitted together as a package, leaving no opportunity for external buyers to slip in.
The issuers don't wait. The current issuer has launched tokens 693 times in total, and 88% of them were completely sold out within 5 seconds.
Follow-Buy Wallets, Mutually Bundled
What surprised me most was that the 3 wallets buying in behind the issuer were not freshly created. They are simply other issuing wallets from the same network.
For example, when Wallet A issues a token, Wallets B, C, and D buy in; when it's Wallet B's turn to issue, Wallets A, C, and E step in to buy. One wallet, 3cCqweS8..., participated in the issuances of 8 different creators back-to-back.
This isn't a group of retail traders accidentally copying trades; it's the same set of wallets pumping each other up, operating like an assembly line.
Ironclad Proof of Single Control: 36 Wallets Transferring in One Block
Consolidating funds into a single destination isn't enough to prove single ownership. What truly points to the conclusion are the following details.
At 15:39:14 on October 14, 36 wallets drained their SOL balances into collection wallets within a single block. Two minutes later, another wallet followed suit. Three minutes after the batch transfers, the collection wallet sent $71,874 in USDC to the holding wallet.
It's highly unlikely that 36 distinct individuals would transfer funds in the exact same block; this can only be a script.
And it wasn't just once. Collection wallets receive funds in batches, with the same group of wallets appearing repeatedly on the same day.
At 1:07 AM on September 9, the former issuer, XXXX5JNG, completed its 938th token launch and conducted its final issuance. At 4:05 AM, a new collection wallet was funded. Six minutes later, the new issuer, DRXPafDu, completed its inaugural token launch alongside 3 brand-new bundled wallets.
Just five days prior, XXXX5JNG had transferred 247 SOL to this new issuer.
There is even more direct evidence: the issuer's initial purchase is identically matched in token quantity across hundreds of launches. 110.9 million tokens swapped for 3.55 SOL occurred 966 times; 112.1 million tokens swapped for 3.56 SOL occurred 797 times. Same tool, same configuration.
The Holding Wallet: Incoming Only
The holding wallet address is:
8wZf1QPda7HeQQYPXebVu8HGEKcCoiSoT7KsuwYLWtFX
It is a standard wallet controlled by a single private key. It has recorded 188 transactions since May 9, all of which are incoming, with zero signed outgoing transactions. There are only two actual senders: Collection Wallet #1 deposited $742,271 in USDC, and Collection Wallet #2 deposited $284,539 in USDC.
The very first SOL deposit in this holding wallet came from an issuing wallet within the network.
Who Is Behind the Scenes? Only the Exchanges Know
I don't know.
This address lacks KOLScan records, has no .sol domain, and has never been mentioned on X. The wallets I traced were funded by KuCoin, Bybit, and Binance. Only these exchanges can link addresses to real identities.
I also cross-referenced this issuance network with nearly 1,000 known KOL wallets: there was no overlap, nor any transaction history between them.
Who Is Funding This?
Every SOL extracted by the issuers comes from those who bought in after them.
Most of these tokens drop to zero within seconds. Of the tokens launched by the current issuer, only about 3% will take off like fun. But even if they do, the operators have already cashed out.
How to Avoid Becoming Their Exit Liquidity
Open the issuance block. If 3 wallets immediately buy in right after the issuer, it's a bundled purchase.
Check the issuer's history. Launching 50 tokens a day indicates a conspiracy group, not a legitimate project team.
Check if the issuer has already sold. In this network, selling takes only 3 seconds.
Avoid buying tokens just seconds before launch by continuous issuers.
Address List
Holding wallet: 8wZf1QPda7HeQQYPXebVu8HGEKcCoiSoT7KsuwYLWtFX
Collection wallet #1: DNmciAfumzbkNRxpPym5kiEsquD69JY3Nvj1T8nWGBqD
Collection wallet #2: Hu92NuUGb9XMKaaqQnBaDfUGph7PnVRmoAtiKpPDrKUu
Current issuer: DRXPafDunsHAMoo6hqyak9J5LfqT1MKBQEp5iUJMFvb7
Former issuer: XXXX5JNGhjPpQEsqcFChLtzv4V1HWyqUaW8tEwyjBfW
The current issuer is still active.