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XMR$603.36AXIS falls 40% as ZachXBT says insiders sold 42M tokens
ZachXBT says addresses tied to Axis Robotics took 76M AXIS from the team multisig and sold via DEXs. The project blames an OTC counterparty for the dump.
Axis Robotics' AXIS token fell about 40% in 24 hours after on-chain investigator ZachXBT reported that suspected insiders took more than 76M AXIS (over $12M) from the team multisig wallet and sold on decentralized exchanges. One address dumped roughly 42M tokens for about 5.04M USDC, Crypto Briefing and PANews reported on Oct. 29.
Details
The token launched on Oct. 21 and reached Binance, Coinbase and Upbit about a week later, TokenPost notes. Per Crypto Briefing, AXIS peaked near $0.361 and dropped to about $0.14 during the sell-off. ZachXBT says some of the tokens were deposited to Bitget.
The project says no team or investor tokens were sold. According to Axis Robotics, an OTC counterparty broke its lock-up terms and dumped the tokens it had bought. Another 835M AXIS (83.5% of supply) remains in a vesting contract co-administered with Binance and requiring 4-of-6 multisig approval. These claims have not been independently verified.
What it means for the market
The episode fits a familiar pattern: a low-float token slides soon after major exchange listings, with sales traced to addresses linked to the team. No regulator or exchange statement has appeared yet. For the wider picture, see the daily brief.
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