Bitquery Links 542 Wallets to Five Solstice Tokens

Bitquery Counts 542 Wallets in Solstice Cluster

Bitquery has identified a cluster of 542 wallet addresses behind five of six tokens tied to the trader known as Solstice, in a separate on-chain review that followed Bubblemaps' Nov. 5 investigation report. The cluster combined five development wallets with 537 bundled wallets, and the firm traced those addresses' initial purchases along with the subsequent movement of funds between them. It stressed that the count refers to wallet addresses, not to people and not to wallets Solstice itself owns. The sixth token launched the same way, but Bitquery's aggregation of sell-side flows did not surface a matching cluster, so the finding covers five of the six. Five of the tokens came to market through Raydium's LaunchLab and one through a Raydium liquidity pool, and none of the six launched on Pump.fun. Bitquery put related trading proceeds at roughly $252,000, against Bubblemaps' estimate of about $270,000 for the allegedly connected wallets. The two sums rest on different methods and cannot be added together or treated as confirmed profits or damages. Bitquery also said it did not contact Solstice directly, and that statements from the parties in the report reached it through Bubblemaps. Bubblemaps had flagged in its Nov. 5 report that its figures and wallet links rest on its own analysis and estimates, and that the scope of each case examined differed. Its base wallet map visualizes holdings and transfer connections among the top 250 wallets on a token, connections the firm treats as leads rather than standalone proof of joint ownership. The original report described dozens of newly created wallets buying at similar times, each holding between 0.5% and 1% of a token's supply, with thousands of intermediary addresses used along the transaction paths.

Bubblemaps Demands Trader Audits and Bans

Bubblemaps escalated the findings into a broader campaign on Friday, Nov. 6, arguing in a post on X that social trading has broken its promise of transparency. The analytics firm described a recurring combination: a visible hot wallet draws followers who copy its trades, undisclosed side addresses sell into the same tokens, paid recommendations generate rewards, and coordinated buying is split across several wallets so no single position shows its full size. “One of crypto's largest KOLs has been secretly extracting millions from his audience,” it wrote, promising to identify the person soon. “Side wallets have become a business model,” it added. Its demands went to the launchpads: audit leading traders, disclose their other wallets and ban repeat offenders. It criticized platforms that pay affiliate commissions, callout rewards and leaderboard rankings, saying they chase volume while doing too little to detect connected wallets or hidden holdings. Earlier cases put numbers on the pattern. Across 49 token promotions tied to the Pump.fun influencer Ethan, Bubblemaps estimated about $125,000 in earnings, split between $45,000 in trading profits and $80,000 in promotional rewards, with the wallets typically selling within three minutes of a callout. Across 534 recommendations Anglio published in the first half of October, five wallets allegedly bought ahead of 61% of his calls, roughly 20 seconds early, for an estimated $130,000, 60% of it from rewards. Anglio had acknowledged using the methods described. In the Solstice case, the trader had climbed to third place on FOMO's leaderboard with a $5 million gain displayed on a STONK position. A separate review of the trader Kimchi traced about $6 million in TRUMP profits against a circulated $40 million claim, and a memecoin promoted through a QR code peaked near a $14 million market capitalization before falling more than 95%.

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Sanctions on Paper, Not Yet Applied

Read together, the two investigations point at the incentive layer rather than at one trader. Callout rewards and leaderboard rankings pay on volume, which is precisely what side-wallet selling monetizes. Pump.fun's own callout terms, renewed on Aug. 13, already let the program operator investigate suspected violations, exclude accounts and cut or cancel rewards, so the lever Bubblemaps wants launchpads to pull exists on paper. What no source shows is any sanction actually applied to the wallets and people named. The gap between Bitquery's $252,000 and Bubblemaps' $270,000 also marks the limit of the method: on-chain records show token flows, not who controls the private keys, which is why both firms label their work estimates.