Yesterday, a hot topic in the crypto community was about someone uncovering a suspicious Polymarket transaction.

According to on-chain analysis, the over $400,000 profit behind this transaction is suspected to involve insider trading manipulation. The investigation process is quite absurd: two wallets funded on Polymarket were both transferred from a major exchange, with transfer times so tightly packed that it’s almost unbelievable.

One wallet’s story best illustrates the issue — on January 1st, it withdrew 252 SOL from the exchange, and almost at the same time, the exchange received a deposit of a similar amount of on-chain SOL. More importantly, it was discovered that the deposit address was linked to a co-founder of a well-known project.

Even more astonishing, these wallets used the same set of deposit addresses. The over $400,000 earned on Polymarket was quickly withdrawn back to the exchange, and shortly after, $170,000 worth of Fartcoin was transferred into the same deposit address — returning to the original deposit address.

The flow of funds closed in a circle. Is it a coincidence? Or did someone get insider information, make precise bets on Polymarket, and then recycle the profits? Once this chain of details emerged, the entire community was shaken.