Wintermute Dumps $ACT, Crashing Meme Coin Market
On April 1, 2025, reports on X indicated significant market activity involving Wintermute, a major cryptocurrency market maker, and a sharp decline in the $ACT meme coin’s value.
Reported Market Impact
$ACT Token Crash: The $ACT token reportedly dropped by 50–60% in minutes.
Other Affected Tokens: Tokens such as $TST, $DF, $UFT, $HIPPO, $LUMIA, $QUICK, and $HMSTR also experienced declines of approximately 40%.
Market Context: Meme coins are highly volatile, often influenced by large players or manipulative trading practices like pump-and-dump schemes.
Speculated Causes
Potential Hack: Some X posts suggested Wintermute’s wallets may have been compromised.
Algorithmic Malfunction: A theory points to a possible error in Wintermute’s trading bot.
Intentional Action: Speculation exists about deliberate market manipulation, though no evidence confirms this.
Unverified Claims: No definitive proof has surfaced to explain Wintermute’s actions or the exact trigger for the crash.
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