Anonymous Wallet Turns $174,000 into $2.45M in Apecoin Trade — Non Fungible Tokens

An anonymous wallet turned $174,000 of ether into $2.45 million by trading non fungible tokens-linked Apecoin around a single-day move that pushed the token more than 80% higher. The wallet, identified as 0x0b8a, had never executed a transaction before that trade.

The sequence was unusually tight. The wallet sold ether on Hyperliquid, opened a 5x leveraged long across 9.19 million APE tokens, and then captured a $1.79 million profit when the price spiked near the top.

0x0b8a on Hyperliquid

Lookonchain said the wallet then flipped short as momentum faded and made another $488,000, bringing the total gain to $2.27 million and the session return to 14x. That is the part traders will focus on, because it shows the profit came from both sides of the same move rather than from a simple buy-and-hold bet.

The wallet’s timing is what made the trade stand out. It appeared just after Yuga Labs disclosed that Michael Figge would become chief executive officer and Greg Solano would become chairman of the board.

Yuga Labs and Michael Figge

Figge’s appointment lines up with the catalyst the market appeared to trade on, and that is why analysts described the wallet behavior as a likely insider play. The trade was not small speculation in a liquid market; it was a fresh wallet taking leveraged exposure in a token that reacted violently to the announcement.

For APE traders, the practical lesson is simple. A sudden leadership change can move a lower-liquidity token fast enough to reward a perfectly timed leveraged position, and it can punish anyone entering after the spike. The wallet’s rapid switch from long to short shows how much the move ran on short-term momentum rather than a slow repricing.

Inside Trading Suspicion

That suspicion has not turned into formal action. No formal investigation has been announced, which leaves the episode as a market signal rather than an enforcement case.