A wallet suspected to be linked to a Bitkub co-founder sold 13 million Multi-Level Marketing tokens four weeks ago.
Wu Blockchain reported, citing MLM onchain monitoring, that a group of wallets suspected to be linked to Sakolkorn Sakavee, co-founder and former chairman of Bitkub, sold about 139,600 ZEC over roughly the past four weeks. The tokens were worth about $111 million when sold, while the same amount is now valued at about $223 million, meaning the wallets missed more than $110 million in potential upside.
What the Sale Shows
The monitoring describes the wallets as suspected rather than confirmed, and the figures come from on-chain activity rather than an official statement. The main fact for readers is that a large ZEC position was reduced early in a period when the remaining exposure would have doubled in value. The episode also shows how public blockchain records can create visible opportunity-cost stories when large holdings are moved and sold.
Earlier Unlock and Swap
On Aug. 27, MLM said the same wallet group had unlocked 65,800 ZEC and sold 53,900 ZEC. It also bought 536.7 BTC during that reported sequence. The earlier activity helps explain the larger four-week total: the wallets did not only hold and sell one batch, but were tracked across repeated unlock and sale events.
What to Watch Next
Because the data are attributed through wallet clustering, the story depends on how reliable the suspected Bitkub link is. Readers can watch for further on-chain disclosures from MLM or related entities, and for whether the wallets continue to convert between ZEC and BTC. No confirmed outcome or future price movement is implied by the monitoring.
Risk Warning
This article is only a compilation of publicly available information and does not constitute investment advice. The wallet attribution and token figures mentioned are based on on-chain monitoring and are not officially confirmed. Crypto assets can be highly volatile, and past prices or missed gains may not indicate future performance. Readers should verify sources, understand the risks, and make independent, rational decisions before acting on any market information.
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