Web3
A Wallet Three Hours Old Minted Kimchi's Coin and Routed Every Fee to One Address
The Defiant·October 21, 2026·1 min read
A deployer bought 79% of Kimchi coin's supply for about $9,300 and set a single, unchangeable address as the permanent recipient of every creator fee. Pump.fun's profile page titles that address 'Kimchi'. The concentration of supply and fees in one wallet raises concerns about market manipulation and centralization risks.
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