Specter retweets warning about community InfoFi project BILL suspected as a scam, with token price plummeting 97% from its highs.

On October 18, on-chain detective Specter forwarded a post on X alerting the community that the InfoFi project BILL appears to be a scam. Reports indicate that the Billion (BILL) token price has dropped approximately 97% from its all-time high. Over the past two months, 17 wallets that received tokens from team-associated wallets deposited around 988 million BILL tokens to CEXs. Additionally, one independent deposit address deposited 360 million BILL tokens to a CEX this week. The related tokens originated from the project team's multisig wallet.

According to statistics, the total BILL tokens flowing into CEXs over the past two months amount to approximately 1.35 billion, representing about 13.6% of the total token supply. At their estimated value, this equates to roughly $15 million. The project team had previously raised $30 million from venture capital firms.