Huawei, one of China’s largest technology companies, posted a promotional video about the DeFi Defactor project, causing the FACTR token to jump 400%.
On February 21, Chinese telecommunications giant Huawei posted a video on Twitter introducing its partnership with a DeFi project called “Defactor”, the narrator in the clip is also the main character. co-founder of this project.
.@defactor_ is a start-up that bridges traditional financing to the new world of #DeFi. Check out their journey at the Huawei International Scale-Up Program in Ireland delivered by @dogpatchlabs. Watch now: https://t.co/yVwZuyPx0O
— Huawei (@Huawei) February 21, 2023
The co-founder shared that Defactor is a bridge solution between the traditional financial market (CeFi) and decentralized finance (DeFi). The cooperation with Huawei is to promote the development of the project’s ecosystem.
Defactor’s FACTR token on Feb 23 saw a massive 400% spike from 0.04 to $0.20, then quickly retreated to $0.09 at press time.
However, not stopping there, following the trace on Etherscan, blockchain investigators discovered that about 13 days before the announcement time, there were a newly created wallet has quietly “collected” 200,000 FACTR and release it as soon as the token reaches its peak price, pocketing a profit of $25,000.
It is not clear if this is an “insider trading” operation, or if Huawei has received any other benefits from promoting the Defactor.
Synthetic Kyptos
