After losing over $16 million, Machi bids $1 million to acquire Friendtech, FRIEND surges nearly 30x

Odaily reported that according to Lookonchain monitoring, Machi (@machibigbrother) bid $1 million to acquire Friendtech after losing over $16 million on FRIEND, driving FRIEND up nearly 30x. A wallet suspected to be an insider (0x2078...0929) spent $4,700 to buy 2 million FRIEND after being dormant for 6 months. After FRIEND's surge, the wallet sold 2 million FRIEND for 20.25 ETH ($50,800), netting a profit of 18.37 ETH ($46,000) — a return of nearly 10x.