I saw something interesting about what happened with the Infinex fundraising. An analyst noticed three wallets that seemed to be doing something strange during the public sale. At first, everything was progressing slowly; the strict KYC and the $2,500 per-user limit were holding things back. People on Polymarket were betting that the total would stay between 2 and 3 million, nothing extraordinary.

Then suddenly, the situation changed completely. Bets of $5 million jumped from 20% to nearly 70% in a short period, and a lot of orders started focusing on higher targets. What’s strange is that these three accounts were opened just the day before, all with similar strategies around the same fundraising thresholds. They were basically insider trading: they had information others didn’t, and they placed their orders accordingly to maximize profits based on the numbers they knew would be reached.

It’s a classic case of insider trading in this space. Three new wallets, same tactics, same timing. It’s not hard to see what happened when you look at the data.