3AC launches 3AC Meme Fund with 80% of supply concentrated in a single cluster

On October 8, three days ago, 3AC launched a meme fund called $3AC. Users of @bubblemaps found that 80% of the supply was concentrated in a single cluster.

Chain tracks show that the team raised 750 ETH (about $2 million) from about 25 investors in a private pre-sale. Participating wallets are closely associated with Team bobocoineth, Team Milady, and others.

The 3AC team split the proceeds of the private sale in half, with 317 ETH ($850,000) going to Uniswap V2's liquidity, which is locked in for a one-year period. The remaining 336 ETH ($880,000) was spread across eight wallets that earned between 10x and 30x their cost basis.

Another preemptive buyer used @BananaGunBot to purchase $320,000 worth of $3AC, a token that soared to $1.23 million at its peak. He cashed out at the high point, but repurchased the same amount a few minutes later. Now, the value of those $3ACs has fallen by more than 50 percent.

3AC allocates 50 percent of the supply to itself at token creation and charges a 1 percent tax on every buy and sell, which flows into a tax wallet that has accumulated more than 7 percent of the total supply.

Pre-sellers have begun to receive distributions of 3AC tokens, ranging from $25,000 to $100,000 per wallet. Less than 25% of presellers have already sold their first 3AC distribution.

Purchasing the token means putting your trust in a small group that controls over 84% of the supply.