Sotheby's VP Uses Internal Wallet to Purchase BAN Tokens and Profits Over $1 Million

On October 28th, according to Lookonchain, Sotheby's Vice President Michael Bouhanna appears to have used an internal wallet to purchase and profit from BAN tokens. Investigations revealed a direct link between the wallet deploying BAN tokens beginning with “5W7U” and Bouhanna, a link that was confirmed but later deleted by the man himself on social media.

Although Bouhanna destroyed his 37.36 million BAN tokens under community pressure, he made a significant profit from another suspected affiliate address, “3wj7”. This address only invested 10.2 SOL (about $1,795) to purchase 36.27 million BANs, sold 18.13 million for a profit of $137,600, and the current market value of the remaining 18.13 million BANs is about $900,000, for a total profit of more than $1 million.

In addition, according to the analysis of the data on the chain, before the operation of the BAN tokens, the associated wallet address had traded other Meme tokens several times but did not obtain significant gains. On October 22 alone, the associated wallet traded over 10 Meme tokens on the Pump.fun platform.