venator On-chain
CASE STUDY
Pokedu/SOL: Master Wallet, Rat Wallet, and Wash-Trading Pattern
Overview
This investigation traces Pokedu/SOL from its creator wallet through successive funding layers to a wallet that appears to function as a master funding source. Forward tracing identified temporary intermediaries, subsidiary and minting wallets, early-buying clusters, and a wallet associated with activity consistent with potential artificial volume generation. Similar infrastructure appeared across TRUMPGOAT and Nudging.
Core Entities
Token:
72iZDQ4JtkiCDkxH1eLC3kbYdFkufqutgcUUeSpGpump
Creator Wallet:
HAwAMhho9DQiHMLRYncNHk3rhQCjvu5yFgRrQrd6Q2Hc
Initial Funding Wallet:
4JdTTBYcBjQAFKCmekAy7rPA31o6iEtQv5YzNtk3vTnF
Funding Trail
The creator's funding wallet was traced to FrpM2wRRmtgdtKfgEQ1SnSYyhqAoF59w63iQwBMxaKmf, which received approximately 600 SOL from Dtwi1eLMTLaUuCwbztpFEoepBdzhjhjmLoTyAdsR3p3u.
Master Wallet
↓
Funding Intermediary
↓
Pokedu Funding Wallet
↓
Creator Wallet → Pokedu/SOL
Temporary Master Wallet & Minting
15:59:17 — June 17, 2026: The master wallet sent approximately 900 SOL to Efm1jBsiGv8kHfiJrre99uwxsHskg3C6AnDNJyMVZyMX. Approximately 600 SOL was then distributed among rat wallets, a subsidiary wallet, and minting infrastructure.
The subsidiary wallet iTZwHzo6ggc3T5Qad1zHNe5DXK3W9wH4QLYwEdrHn4z was connected to minting wallet 68YHBkxPLXzVqqyR4x3jP8wvZV3HWLHE4ccuK7vmdTnL within the same transaction block through CPI.
Cross-Launch Pattern
TRUMPGOAT: AeFSni25bQLtEJrXtRLSvFnWz4N7F4XtUdWWv3mppump.
Early-buying wallets included
idFmG4Vgiyx4YYJfuVjJoRxFyJChDA6o4nH31cvovRK, 8GVPxuJtiS1ArbGafUXZPkmrGEzLBcFezjDB6h5u8C4H
e8io2eco2faZuKjiq2EMrD7FKveGfqup7Z2beY9FNuz.
The token reached an estimated $644.9K market cap before falling to a level described as a rug around $484K.
Nudging
Token: DT5BdfBKRkyAE6NU5Towb578LNADT841P7yUzZbUpump
Minting Address: 9TxLaFxE19M7bdJvE48TmR14tssumWQ2LjqZanz7Ggi8.
Large master-wallet transfers preceded another token-specific sequence of minting, buying, and trading activity.
Potential Wash-Trading Wallet
FxzXAZRcp4agM24y4NaoQoq9pZ9mGsVHY1i8DTNzMX received approximately 450 SOL from the master wallet and was later observed in trading activity. The behavior appears consistent with artificial buy/sell activity or volume generation. On-chain evidence supports behavioral attribution, not definitive identification of the controller.
June 18, 2026 — 15:28:43: Approximately 800 SOL was sent to EZDkNsBs74H6hfjHvHjJ5mB1A6pgRE2ReEwJJi6MJsdp and 650 SOL to 4S1YWzBuQ9QkRtfRkiqYFHWZZNmsfpRPDADnRRj37nAu, the latter associated with pumping/trading activity.
Key Findings
• Large SOL balances originated from a common funding wallet.
• Intermediaries separated funding from final operational wallets.
• Minting wallets, rat-wallet clusters, and trading wallets appear to have distinct roles.
• The same broader architecture recurred across Pokedu/SOL, TRUMPGOAT, and Nudging.
• Wallet relationships do not independently establish real-world identity.
Conclusion
The observed pattern is:
Master Wallet → Temporary Master Wallet → Subsidiary Wallet → Minting Wallet / Rat Wallets → Token Launch → Trading Activity
Combining fund-flow analysis, wallet clustering, temporal transaction analysis, and behavioral pattern recognition provides a stronger view of suspected coordinated activity on Solana.
