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Solana bot turns $12,000 into $1.4 billion in trading volume on Raydium, raising fake liquidity concerns
Blockchain analytics firm Bitquery reported that a single Solana wallet generated $1.4 billion in suspected wash trades, accounting for nearly a quarter of Raydium's concentrated-liquidity volume between Sept. 21 and Oct. 20. The operation used about $12,000 in working capital to repeatedly generate transactions worth millions of dollars. The investigation also found substantial discrepancies, with ten pools linked to the wallet showing about $5.93 billion in combined liquidity on DEXScreener, despite holding just $10,238 in USDC reserves. These findings raise fresh concerns about the reliability of decentralized exchange trading volumes and liquidity figures.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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