Beats
4.2K posts

Beats
@beatsonsol
Sound design #Music production #Audio content. #Web3 enthusiast.








The only announcement @Backpack made was organizing underground token trading by the team themselves If you’re literally encouraging people to trade around your own exchange, that doesn’t say anything good at all For me, that’s the final straw





The real winner of the @Backpack TGE While many were betting below $200M on Polymarket, KKStone was on the other side of the trade. Anyone positioning below that was likely in one of two scenarios: Not paying attention to what was happening on X Or genuinely believing there wouldn’t be any price pressure or last-minute adjustments So, what do you think? For those paying attention, KKStone positioning was already a clear signal of how this could play out. The signs were there, just not everyone was looking =)





UPDATE: This user is now down $350,000 unrealized betting on @Backpack 🤯🤯 The worst part? He has been doubling down on his 200m YES position which is currently underwater too 😭 This market expires in 6 hours and price is currently at 190M FDV. Things could get even uglier for this guy 💀



The Largest Manipulation in Polymarket's History Thousands of traders were fooled. The market is asking, “Will Backpack's FDV exceed $200M one day after launch?” With 10 minutes left in the event, the price is below 200M FDV, but the probability that the valuation will exceed 200M is still 90%. It seems traders feared manipulation and were right. It all comes down to one trader: KKStone, who bet nearly $1M on 4 events and messed up big time. In an attempt to salvage whatever he could, he likely tricked all the traders by buying up the order book on that shady exchange @Backpack and keeping the price above $0.20 to win the market. Here’s his profile: @KKStone" target="_blank" rel="nofollow noopener">polymarket.com/@KKStone
Immediately after the event ended, the price of the BP token plummeted, dropping more than 5% in 9 minutes. Meanwhile, DexScreener and CoinMarketCap closed the candle at $0.1996, but the resolution will still be positive. If this isn’t the biggest scam in Polymarket history, it’s definitely one of them It would be great if @Andrey_10gwei could break down this case

Loyalty, loyalty, loyalty.











