A DeFi analyst, known as @lordjorx, has claimed that the recent over 40% surge in the price of CVX (Convex Finance) was manipulated by bot wallets. According to the analyst, two specific bot wallets were responsible for driving the price up by continuously purchasing the token. This artificial price increase allowed two major holders to sell 25% and 34% of their holdings, respectively, using the surge as an exit strategy. The bot wallets that initiated the rally have since emptied or transferred their funds. Despite expressing fundamental bullishness on the Curve Finance and Convex Finance ecosystems, @lordjorx cautioned users to be aware of potential market manipulation and advised them to verify on-chain data to avoid becoming exit liquidity victims.
DeFi Analyst Alleges CVX Price Surge Manipulated by Bot Wallets
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