Specter: InfoFi project BILL suspected of being a scam, token down about 97% from its peak

October 18: On-chain detective Specter retweeted a tweet warning the community that the InfoFi project BILL is suspected to be a scam. The price of the Billion (BILL) token has fallen about 97% from its all-time high. Over the past two months, 17 addresses that received tokens from team-associated wallets deposited approximately 988 million BILL into trading platforms. This week alone, another independent deposit address deposited approximately 360 million BILL into a trading platform, with the tokens originating from the project team's multisig wallet.

According to statistics, over the past two months, a cumulative total of approximately 1.35 billion BILL flowed into trading platforms, accounting for about 13.6% of the token's total supply, with an estimated value of approximately $15 million. The project team had previously received approximately $30 million in financing from venture capital firms.