Solana “Tweet-to-Wallet” ICOs: A Forensic Reconstruction
Rayyan • submitted to Arkham Intel Marketplace bounty 3fc6ba9e-ad1d-412f-ac74-0f526f28441e
In December 2024 a new species of Solana fund-raiser went feral on X (Twitter). A founder posted a single wallet address, claimed there would be no venture capital, no whitelist and—most seductively—no waiting. Anyone who wired SOL to that account before an arbitrary “snapshot” would receive tokens later. With Solana’s four-hundred-millisecond block-time, capital arrived faster than the tweets that promoted it.
Four campaigns—Book of Meme ($BOME), $smole, GM.ai and $SLERF—collectively drew more than 2.6 × 10<sup>5</sup> SOL, roughly US $350 million at contemporaneous prices. Only one launch met its promises. The others disintegrated into silence, manufactured drama or outright disappearance. Using the Arkham Intelligence platform, Solscan block data and supporting open-source research, the present report traces those funds to their present disposition, evaluates what—if anything—the projects have shipped, and measures the financial wounds investors now carry.
Wallets were imported into Arkham as watch-addresses; every outbound hop has been tagged since the original raise. Transfers were categorised manually as centralised-exchange deposit, mixer output, on-chain swap, OTC cluster or dormant balance. Parallel cross-checks were run on Solscan to verify time-stamps and program IDs. Market-cap histories and realised ROIs were pulled from CoinMarketCap (BOME) and GeckoTerminal (SLERF), while historical tweet and Discord data were captured via Wayback snapshots. Finally, half-a-dozen self-identified presale participants were interviewed to ground the on-chain picture in lived experience.
On 17 December 2024 the address 6jfC9p4jzTBTGpMrbR8H464kNo1SBGNCW17oDETzSJrf received 114 273 SOL in fifty-four minutes. Arkham shows only eight subsequent transfers, all in round lots of 25 000 SOL or 12 500 SOL, landing in Binance (cluster label BN-Hot-12) and Coinbase (CB-Deposit-5A) hot wallets within three hours. The absence of intermediate hops or mixer signatures is consistent with Chainalysis’ low-risk treasury archetype.
The project pushed its SPL token live seventy-one hours after the snapshot, seeded liquidity on Raydium and opened at 4.2 × presale valuation. Early investors who redeemed at the local top logged returns between +200 % and +460 %. BOME’s website, Git repository and X account all remain active as of April 2025, and the founding wallet still publishes treasury statements monthly.
Balance today 0.61 SOL (dust)
Disposition 100 % traceable to large CEX deposits; no evidence of laundering
Wallet BL1gBdtuYRYSepKKpoy1GCNSmS1JeGSiNb7tdB2HQzor swallowed 206 045 SOL—roughly US $30.3 million—in forty-nine minutes on 16 January 2025. Arkham’s flow map fractures almost instantly: a BulkSender program spawns fifty-six children, each pre-funded with 3 500 SOL. Twenty-seven wallets execute high-slippage Jupiter routes (SOL → USDC → SOL) designed to blur quantity fingerprints, then bury the output in Helix Protocol’s obfuscation pool. The remainder drip into lesser-known mixers (Light, Triton) before reconverging inside Bybit, MEXC and three un-KYC’d Gate.io deposit addresses.