Crypto Chaos Unleashed: 160 Wallets, 30% Tokens, Zero Chill 😱

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Concerns are bubbling up-rather like an inconvenient swamp fairy-around the token launch of Edel Finance, a lending protocol bravely attempting to mash together tokenized stocks, real-world assets, and the faint hope that no one is paying too much attention. Spoiler: people are. 🧙‍♂️✨

On Tuesday, the ever-watchful Bubblemaps (imagine a magical cartographer with trust issues) announced that roughly 160 wallets somehow managed to scoop up 30% of the freshly launched EDEL tokens-about $11 million worth-faster than a wizard running from paperwork. They claim these wallets were linked and funded right before the gates of trading swung open.

“Edel Finance sniped 30% of $EDEL. Then tried to hide it behind a maze of wallets and liquidity positions,” Bubblemaps declared-presumably while waving their arms dramatically. “Just hours before $EDEL launched, ~60 wallets were funded from Binance […] Together, they got 30% of the supply – now worth $11M.”

For the uninitiated, “sniping” is when crypto bots attempt to buy tokens so early that even time itself looks confused. It’s the digital equivalent of elbowing your way to the front of the line and pretending it’s a coincidence. 🤖💸

Bubblemaps further claims that all these wallets were juiced up with ETH at roughly the same time, which was then artfully cycled through “fresh wallets” before landing in the final layer-like a Russian nesting doll built by accountants.

Each wallet allegedly kept 50% of its spoils, with the rest scattered across 100 secondary wallets-each one reportedly funded through MEXC, presumably all whistling innocently.

According to Bubblemaps: “The list of all 100 secondary wallets is included directly in the token contract creation code,” which is the blockchain equivalent of leaving your name, address, and favorite sandwich in the confession letter.

CryptoMoon, meanwhile, has heroically been unable to verify any of this. Perhaps they were busy making tea. ☕️

EDEL launched on Nov. 12 and is currently sitting at a market cap of about $14.9 million-though it has dramatically swan-dived 62% over the past week. It’s not technically on fire yet, but you can smell smoke. 🔥😬

Edel Finance itself positions as a decentralized lending protocol intending to drag traditional stocks kicking and screaming onto the blockchain. The team reportedly includes alumni from State Street, JPMorgan, and Airbnb-because nothing says “trust us” like bankers and landlords.

Edel co-founder denies sniping allegations

James Sherborne, co-founder of Edel Finance, strode into the fray waving spreadsheets and righteous indignation. He claims the team actually intended to acquire 60% of the token supply on purpose, and placed it all into vesting contracts-like a dragon sitting on an egg it swears it isn’t hoarding.

“Cool chart – but not accurate… we actually acquired ~60% of supply and placed the tokens into a vesting contract, as per the docs,” he posted on X, probably while doing the digital equivalent of tidying his desk.

The tokenomics documents show only 12.7% was allocated to the team, with a 36-month vesting schedule. That’s three years-the same amount of time it takes wizards to fill out forms or goblins to finish telling a joke.

Bubblemaps, however, called the explanation a “Hayden Davis defense,” referencing a notorious memecoin creator famous for insider allocations big enough to blot out the sun-and for tokens that crash harder than a tipsy troll on roller skates.

“I sniped my own token without telling anyone, but trust me it’s fine,” Bubblemaps paraphrased mockingly. “If you were genuine, you’d have allocated the supply upfront based on your tokenomics.” Ouch. 🎯

Bubblemaps also pointed out that the 50% supply in the vesting schedule came from the deployer and had “nothing to do with the snipe,” which is the blockchain version of saying, “Your alibi has holes so big even magic couldn’t patch them.”

CryptoMoon has reached out to Edel Finance for comment. Whether they’ll reply or cast a silence spell remains to be seen.

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2025-11-26 15:21