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New wallet received 9.3 million $KTA and 2 billion $GALA through cross-chain bridges, followed by a sell-off that led to a significant price drop
2026-08-19 08:57:39
According to CoinMeta, as reported by Lookonchain, a newly created wallet received 9.3 million $KTA (about 685,000 US dollars) and 2 billion $GALA (about 3 million US dollars) through a cross-chain bridge, and then sold them off for 1,902 $ETH (about 3.64 million US dollars). This move caused $KTA to fall by 37% and $GALA to fall by 15%. Such behavior seems somewhat suspicious.
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