Kendy

[Kendy @kendyngv]

@tradercouch @Kanaro_DeFi @Okada_DeFi0x @ProjectVEXai 🤣🤣🤣🤣🤣

[Kanaro @Kanaro_DeFi]

@Okada_DeFi0x @ProjectVEXai Tbh this looks ugly. Users were buying $VEX while a cluster of high-PnL wallets kept extracting value through Bundlers and Smart Accounts.

Team needs to explain who controls these wallets

[Kendy @kendyngv]

@Okada_DeFi0x @ProjectVEXai Excellent analysis. Those two scumbags, Dosu and Mikey, just keep dumping. They are absolute bastards; the $VEX project is a scam.

[Kendy @kendyngv]

@Okada_DeFi0x @ProjectVEXai Good bro.

[Okada_Research @Okada_DeFi0x]

$VEX | @ProjectVEXai dumped tokens and extracted nearly $1.5M from users 👇👇

I’m pretty busy and tbh I didn’t really want to get involved in this drama, but the $VEX founder has asked me many times for proof that tokens were being sold.

So I went back onchain and checked how these transactions actually work.

[1] Why you can’t find the sell txs from the From wallet

With a normal wallet, the flow is simple: EOA wallet → DEX → sell, so checking the From address usually shows the trading history directly.

But some of the $VEX wallets I checked use a different setup, where the address shown in From is only a Bundler.

The actual transaction can be executed through a Smart Account behind it, which means the visible From wallet may show almost no $VEX buy/sell history.

Think of it like this: Bundler = delivery driver, Smart Account = the person deciding where the package goes.

[2] How Smart Accounts work

A normal EOA wallet works like:

Private key → Wallet → DEX

A Smart Account setup can look more like:

Owner key / passkey / multisig → Smart Contract Wallet → Execution contract → DEX / bridge / app

So if you only check the visible From wallet, you are only seeing the outer layer of the transaction.

The real token movement can happen behind it through Smart Accounts, execution contracts and liquidity pools.

[3] This is what I found when tracing $VEX

Instead of stopping at the From address, I checked ERC-20 Transfer logs, Approval logs, Smart Accounts, Bundlers, execution contracts and liquidity pools.

Once you follow the full path, the $VEX sell activity is there: token leaves the Smart Account, part goes to fees, and the rest gets routed into liquidity pools and swapped into other assets.

So when someone says “show me the wallet selling $VEX,” checking only the Bundler wallet is basically useless.

You need to trace the entire execution path.

[4] Then I checked the top PnL wallets

I quick checked around 100 of the highest PnL wallets around $VEX, and many of them show similar behavior.

They were active around $VEX from very early on, traded continuously, used Bundler/Smart Account execution and ended up with very high PnL.

From my quick calculation, the combined PnL of the wallets I checked is already close to $1.5M.

That is a lot of money extracted from the market while users were still buying and holding $VEX.

I’m still tracing these wallets one by one, so I’m not saying every address is already confirmed to belong to the team/MM.

But the sell activity itself is onchain.

[5] And don’t forget the 1% transaction fee

$VEX also charges around 1% transaction fee, and with the volume the token generated, the fee side alone could be worth around $2M based on my estimate.

So potentially we are looking at around $1.5M PnL from these wallets + around $2M from transaction fees.

If the team thinks my wallet analysis is wrong, the answer is simple: public the team wallets, MM wallets, treasury wallets and fee wallets.

Then everyone can compare them directly onchain.

Send this sh*t to 0.

[Kendy @kendyngv]

@Okada_DeFi0x @ProjectVEXai I had been warning users for a long time that they were continuously moving and selling $VEX tokens; after I provided proof, they blocked me.

[Okada_Research @Okada_DeFi0x]

I’ve sold all of my $VEX | @ProjectVEXai

I was probably one of the longest-standing holders here, but at this point I’m genuinely disappointed.

– The product kept shipping, so I stayed patient for a long time
– But the token behavior started to make me uncomfortable
– I’ve seen wallet activity that looks consistent with tokens being distributed and sold through market-making routes
– If that interpretation is correct, then holders were absorbing supply while the market thought the team was still fully aligned

I don’t want to call anything “exit liquidity” without posting the wallet evidence publicly, but this is enough for me to step away.

I supported $VEX for months, bought with my own money, and never received payment or tokens from the team.

Now I’m out.

If the team wants to clear this up, they should explain the wallet flows transparently

[Kendy @kendyngv]

@mihael19981 🤣🤣🤣🤣

[Kendy @kendyngv]

Fuck you all—posting bullshit every day; just get the fuck out of RBH. The sell volume is nearly double the buy volume. Fuck you, 'dosu and mikey'—you two little punks need to stop selling. The $VEX project is a professional scam.

[Kendy @kendyngv]

Bought in at $17–$18, but the sell order is $1800 🤣🤣🤣— $VEX is wild. It’s run by two developer kids, so the project is just a pump-and-dump scheme. Totally useless on RBH. $dosu $mikey

[Kendy @kendyngv]

There has never been a project as fucking awful as this $VEX project. The dev keeps dumping; at times, sell orders flood the market, with sell volume five times higher than buy volume. Fuck you, 'dosu' and Mikey—stop selling.

[Kendy @kendyngv]

Go ahead and add up the latest buy and sell orders. Here’s your $vex, haha.

[Kendy @kendyngv]

@In2Dcryptovrse Haha I'm not stupid; this project is a scam.

[Kendy @kendyngv]

Just look at that "amazing" $VEX project of yours. Look at the sell orders versus the buy orders—the most recent ones are mostly sells. The dev is a true "farmer," specializing in dumping tokens onto the buyers.

[Kendy @kendyngv]

The devs have opened the floodgates, dumping tokens onto the market like crazy. 🤣🤣🤣 The $VEX devs are such fucking scumbags; the only way they’ll escape the cops is by reincarnating. These $VEX project devs are organized scammers—be careful.

[Kendy @kendyngv]

🤣🤣🤣🤣$vex it🤣🤣🤣

[Kendy @kendyngv]

@tradercouch The dev is a true-blue "farmer"—specializing in scamming people 🤣🤣🤣

[Kendy @kendyngv]

Here is that "amazing" $VEX project of yours. Here is your beloved dev. Just look at the chart—it’s a pile of trash. What are you guys planning to do? Have you cut your losses yet, or are you still holding the bag at the top? Watch out—it’s a scam.

[Kendy @kendyngv]

@EgaSeptiaw31895 DCA or wait for the devs to pump it again.

[Kendy @kendyngv]

@Sensoopp Noa đeo tai phone