Ethereum wallet burns 500 ETH to spread ominous warning about Kuande Investments

One Ethereum wallet spent 500 ETH to spread a sinister message through Etherscan. The message, alleging mind control and malicious actions, burned around $1.38M to a dead-end address to spread the allegations about a firm named Kuande Investments. 

An Ethereum wallet burned 500 ETH just to attach a message alleging malicious actions on the part of Kuande Investments, a relatively unknown firm. The wallet spread a lengthy message claiming mind control and brain-chip technology, which the company’s bosses Feng Xin and Xu Yuzhi used against their employees.

The Etherscan message took social media by storm, though there’s little insight into the motivation for the large amount of ETH committed to the void address.

Kuande Investments accused via Etherscan 

The outlandish claims were attached to an Ethereum block, claiming malicious actions on the side of Kuande Investments. The wallet owner was ready to part with a large sum to make the statement. The complete history included a burn of 500 ETH, in addition to several donations. The wallet also sent 130 ETH to the Ethereum Foundation.

‘The bosses of Kuande Investment: Feng Xin and Xu Yuzhi used brain-machine weapons to persecute all the company employees and former employees, and they themselves are also controlled,” read the message. 

The other persons mentioned in the message have been identified as founders and members of the WizardQuant team. WizardQuant itself is a company for data collection, AI technologies, analysis and portfolio construction. The company was not explicitly connected to crypto, but there were suspicions Lezhi used a company’s wallet to burn the ETH. Lezhi’s wallet was funded by a millionnaire address, which mostly served ETH transactions to other high-velocity wallets. 

Since the message was spread, the wallet that originated the transaction was dusted with ETH, as a way to track the wallet’s actions.

Meme token immediately launched after allegations

The ETH message block held enough shock value to attract attention to the event. Token creators reacted immediately, launching a new Kuande Investments meme on Solana. The token is entirely unofficial and is built by a serial token developer with dozens of small-scale meme assets and a balance of just 14 SOL.

The token launched about five hours after the message and was still in the Pump.fun bonding curve, waiting to break out from its rock-bottom price.

In the initial hours of trading, Kuande had a rapid rally, easily expanding by 50X during the Pump.fun stage, with highly active commentaries and engagement from the ‘trenches’. The token’s launch coincided with a worrying message from the transaction creator. This did not stop the Pump.fun meme creators from exploiting what looks like a serious mental health crisis. 

When it came to the Kuande token, it was also taken up by shills and social media influencers, spreading its CA through X and Telegram. The rapid shilling and immediate mentions of the token’s CA resembled a coordinated meme campaign. If so, the attempt was rather risky, as Kuande only had a market cap of $44K, a small fraction of the ETH burned to popularize the asset. The token remains a high-risk wild card, though it managed to complete 91% of the Pump.fun bonding curve in two hours.

Later, another token, WizardQuant, was also created to tap the story’s initial hype. The token quickly completed 85% of its bonding curve, with a 10X growth within hours of its launch. The recent launches arrive at a time when Solana meme tokens are slowing down their daily new launches. At the same time, any event on social media can be tapped for its lore and meme potential or even shock value.