Blockchain analytics firm Bubblemaps released a report on November 6, 2026, accusing several prominent crypto influencers and key opinion leaders (KOLs) of utilizing hidden wallets to profit off their followers. The scheme relies on flaunting public wallets to entice followers into copy trading, while secret side wallets prepare to dump tokens once followers begin buying.
The divergence in transaction patterns between public and secret accounts is clearly visible in the on-chain data compiled by Bubblemaps.
Quick Exits Following Recommendations
An investigation into 49 token promotions by Pump.fun influencer Ethan revealed a recurring transaction pattern. From those 49 promotions, Ethan netted an estimated $125,000 in profits, split between $45,000 in trading gains and $80,000 in promotional rewards. Blockchain records show that his side wallets began offloading tokens onto the market within an average of 3 minutes after recommendations were published.
Front-running tactics were also detected with another influencer named Anglio. When sharing 534 token calls in early October, five wallets affiliated with him purchased tokens an average of 20 seconds before the recommendations were made public. These preemptive buys occurred across 61% of all tokens he promoted, yielding net profits of $130,000.
Hidden Profits Behind Reported Losses
Tactics observed on the FOMO platform showed an equally stark contrast. An influencer named Solstice ranked third on the platform with $5 million in STONK gains. In his public portfolio, Solstice recorded a $70,000 loss from four different tokens: STONKINU, BOP, QUEEF, and HEV. However, while his public wallet showed losses, his side wallets booked a net profit of $270,000.
Bubblemaps highlighted the role of token launchpads such as Pump.fun and FOMO in this ecosystem. Both platforms offer callout reward features and display trading volume leaderboards, yet they have reportedly overlooked verifying undisclosed token holdings held by content creators actively promoting assets across their systems.
A Behind-the-Scenes Business Model
Bubblemaps emphasized that operating side wallets has become a covert business model across the industry. The analytics firm also stated it is preparing to expose the identity of a major KOL who quietly extracted millions of dollars in profits from their own audience.
For market participants and readers following social media recommendations, these on-chain findings send a clear warning: publicly displayed portfolios do not necessarily reflect an influencer’s true financial positions.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
