TechFlow news, according to Ember data analysis, the friend.tech project team transferred a total of 19,477 ETH to Coinbase between December 2023 and June 2024. If all were sold, it would amount to approximately $52.4 million.
Specifically, Friend Tech's Fees address transferred 7,821 ETH (worth about $16.85 million) to Coinbase in December 2023; its Gnosis Safe Proxy address gradually transferred 11,656 ETH (worth about $35.55 million) to Coinbase from January to June 2024.
These fund transfers occurred after the Friend Tech team relinquished control of the contract, sparking community speculation that the project team was conducting a "soft rug."
Previous report, data shows: Friend.tech has earned a total profit of $44.62 million since its launch.
