Vice president of Sotheby’s Auction House Michael BouhannaAccording to data shared by Lookonchain on October 27, he earned more than 1 million dollars by using a memecoin he developed called BAN. Bouhanna carried out these transactions through his own wallet (“5W7U”). Bouhanna, who previously admitted on social media that this address belonged to her, later deleted the post in question.
Wallet Address Details
Bouhanna’s “5W7U” wallet, BAN coinIt is registered as the developer address of , and it is stated that he made great profits by purchasing these coins. Additionally, Bouhanna had another wallet (“EwVB”) that was determined to be actively used on October 22, transacting with more than 10 different memecoins.
The wallet also provided funds to the address “3wj7”, which previously attracted attention and increased the investment of 1,795 dollars to 929 thousand dollars, and it turned out that this address was linked to Bouhanna.
Bouhanna, different before memecoinHe could not make much profit on the investments he made in the 1990s and suffered losses. However, he managed to turn the situation in his favor with BAN coin. Although Bouhanna destroyed 37.36 million BAN coins by burning them due to increasing pressure on him, he still earned over 1 million dollars by using his internal wallets in the process.
lookonchainThe findings brought forward allegations of insider use and manipulation. It remains unclear what kind of statement Bouhanna will make against these allegations and how his position at Sotheby’s will be affected by these events.
Coin Manipulation and Legal Implications
Experts say this type manipulation He states that his claims may cause the trust in the markets to be shaken. Such transactions based on insider information may lead to legal sanctions, and this highlights the need for high-profile investors to be especially careful.
Such events cryptocurrency marketIt once again demonstrated the need for control and transparency in Turkey. It is critical to closely monitor such developments in the cryptocurrency world and take the necessary precautions to prevent market players from being harmed.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
