WALK Token: Netizens’ Investigation Reveals Shocking Crypto Dumping Incident

June 3, 2024

An extensive investigation by vigilant netizens has uncovered a massive dumping incident involving the WALK token, in a stunning revelation that has sent shockwaves through the cryptocurrency community, particularly within the Shib Army.

The unprecedented selloff has surprised a lot of Shibizens, prompting urgent calls for greater transparency and accountability within the crypto space.

The Shiba Inu ecosystem, known for its vibrant community and meme-inspired tokens, recently witnessed a dramatic series of events that have raised questions about the integrity of token transactions and the identities of those involved. At the heart of the controversy is the WALK token, which saw trillions dumped from a wallet initially believed to be associated with a community member known as Ky Doggo.

However, further scrutiny by the community revealed that the true actor behind the dump was @Shibamoonshop, and not Ky doggo. In an attempt to protect holders from what has been described as a hostile takeover, Ky doggo renounced the contract and burned the DAO wallet, a move that has since been the subject of intense discussion within the community.

The official X account of ChewySwap, a decentralized cryptocurrency exchange platform on Shiba Inu’s Shibarium, recently made a series of posts regarding an investigation it had conducted about the WALK token, a crypto project with unique digital token designed to incentivize and reward individuals for engaging in physical activity. 

In an attempt to shed light on the situation, ChewySwap’s investigation underlined that the project’s new owner @Shibamoonshop (MOON DG) was responsible for dumping the WALK tokens, which is contrary to previous accusations against Ky Doggo, another community figure. MOON DG is reportedly planning to launch a WALK 2.0 on his decentralized exchange (DEX), raising further suspicions among the community.

Blockchain tracking has been crucial in piecing together the events. The wallet in question (address: 0x174b0662f587B7786b46366Cd054d25DE2Cf6510), which initiated the massive selloff, can be traced back, through a series of blockchain transactions, to  MOON DG. A significant transfer (tx: 0xc2ec1ba6c7d8855c931ae42da8ef63f24abdd85369d3828c512f8d9c11c6e043) bridged to the Ethereum mainnet, followed by the movement of 12 LEASH tokens to the A9 wallet, has provided a breadcrumb trail for those seeking answers.

Adding to the complexity, a wallet (address: 0x92c534603e3d3a117493f150a518fb90b5a34e02) that originally funded the dumper’s wallet has been linked to shibspark.eth, a name that has become synonymous with the unfolding drama.

Another transaction (tx:0x5ead4f0c3ce1bd54be400dc6eb71c8d0afa3ae8779b3218a9211ea304af464c9) dating back 136 days reveals an ETH transfer from this wallet to itself, further entangling the narrative. This transaction provided a clear connection to MOON DG, whose project, Shibaspark.eth, was identified as the source.

The community’s response has been one of proactive investigation and analysis. ChewySwap took to social media to voice its findings, stating, “We looked into it and it all ties back to shibspark.eth. Now there is one transfer that ties it all up and connects to an alt account from a Shibull PFP. That weak spot is the hole in the narrative. Otherwise seems airtight. I honestly feel we need to confirm if anyone’s ever spoken to the owner of that one particular wallet.”

In another post on X, ChewySwap shared a screenshot of a conversation with Ky Doggo, revealing the founder’s perspective on the situation. Ky Doggo explained his actions and expressed his distrust of Moon DG.

“I burnt, I decentralized the contract as required. [The] community can do what they want… Don’t trust Moon. Moon will manipulate anyone and everyone to get his way. I never dumped anything … Check my wallets. Take care, I’m done with crypto. I lost everything but it was worth it to stop Moon … God is real, he is extremely powerful, and when he screams at me to ‘Run’ from Walk, I had to listen. There are forces at play beyond anyone’s control. Moon claims to be part God himself (the spirit of the antichrist) from 1 John 2:18-27,” Ky Doggo told ChewySwap.

The situation remains fluid, with new information emerging as the community delves deeper into the blockchain data. What is clear is that the Shiba Inu ecosystem is at a crossroads, with the actions of a few casting a long shadow over the many. As the investigation continues, the call for transparency and accountability grows louder, echoing the sentiments of a community determined to protect its interests and uphold the values of decentralization and trust.

The Shib Daily has reached out to Shibamoonshop, the owner of Shibaspark for their comments and will update this story as soon as they respond.

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