Bitquery Investigations

Original research and forensic investigations from the Bitquery team. Every figure traced on-chain, every query published so you can check it.

Address Poisoning - The address that was almost right

August 11, 2026

We analysed 1.28 billion Ethereum transfers. Address poisoning targeted 6.9 million wallets and stole $22.3 million in a year — 63% of it in plain ether that token-only studies never count.

Investigation

Ethereum

Financial Crime

Wallet Security

Bitquery Research

A Story About Hyperliquid Deposits and Withdrawals

August 10, 2026

Every USDC transfer across Hyperliquid's Arbitrum bridge: $80.084B in, $79.660B out, 1.28 million addresses, and a June 2026 "bank run" that was 58% one wallet.

Investigation

Hyperliquid

Arbitrum

Perp DEX

Blockchain Data

Bitquery Research

How Much of Polygon Is Polymarket? We Counted Every Transaction

August 10, 2026

Polymarket is 38.7% of Polygon transactions, 62.2% of its gas and 70% of its USDC.e volume, from 0.72% of its addresses. A 12-month Bitquery investigation.

Investigation

Polygon

Prediction Markets

Blockchain Data

Bitquery Research

The Coldcard Wallet Hack: $80M Gone in 41 Minutes

August 7, 2026

A flaw in a popular bitcoin hardware wallet let thieves empty 3,297 addresses across four waves, 1,240 BTC worth roughly $80M. The first wave took 41 minutes. Bitquery traced every coin: 94.8% has never moved, and the one pool that did left a 46-minute signature.

Investigation

Bitcoin

Security

Blockchain Forensics

Bitquery Research

A Story About Hyperliquid Deposits and Withdrawals

How Much of Polygon Is Polymarket? We Counted Every Transaction

The Coldcard Wallet Hack: $80M Gone in 41 Minutes

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bStocks - The 3 a.m. stock market

July 30, 2026

A month of Binance's tokenized US stocks on BNB Smart Chain — $2.46 billion across 4,418,699 trades and 16 traded contracts — and the hour of peak volume is three in the morning in New York.

Investigation

BNB Smart Chain

Tokenized Equities

RWA

Bitquery Research

The stock market that took a holiday it had never heard of

July 29, 2026

Thirty days of every tokenized-equity trade on Solana — $342.5 million across 1,785,543 trades and 26,211 wallets — and the federal holiday a blockchain had no reason to observe.

Investigation

Solana

Tokenized Equities

RWA

Bitquery Research

What 63 million trades reveal about Robinhood Chain

July 28, 2026

Thirteen days of Robinhood Chain's complete trade record — 63.5 million trades across 823,712 wallets — and what they show about how the chain is really used.

Investigation

Robinhood

Tokenized Equities

DEX

Bitquery Research

Binance sent nearly $1 billion to crypto casinos on Ethereum last year

July 14, 2026

A Bitquery analysis traced $1.5 billion moving from the world's largest exchanges into gambling sites over twelve months. Two-thirds of it came from one exchange, and most of that went to a single casino.

Investigation

Ethereum

Casino

Exchange

Bitquery Research

Inside Collector Crypt's $622M gacha, now expanding to Jupiter

July 13, 2026

A full on-chain accounting of Collector Crypt's Solana gacha: $622.6M wagered across 17,544 wallets — who profited, who paid, and where the house edge really sits.

Investigation

Solana

Gacha

Bitquery Research

Blockchain data reveals one casino now controls 80% of crypto's on-chain gambling.

July 13, 2026

A Bitquery analysis of twelve months of Ethereum deposits found Stake drawing roughly four of every five on-chain gamblers — 78% in April 2026 — while rivals fade.

Investigation

Ethereum

Casino

Bitquery Research

$ANSEM token: the 65% nobody mentions — how Ansem pre-loaded his own memecoin

June 30, 2026

$ANSEM looks like a fair-launch fairy tale: a coin that died, then 370×'d when its namesake showed up. The chain says something else. Six days before the public could trade, 65% of the supply was already in one wallet.

Investigation

Solana

Memecoin

Bitquery Research

Is wash trading a good way to get bots to trade your token? We found a better idea.

June 25, 2026

Of 339 Solana tokens that faked volume with four or fewer wallets, exactly zero attracted a real crowd. The ones that flip share a different fingerprint.

Investigation

Solana

Memecoins

Market Integrity

Divyasshree

How an Attacker Drained a Cardano Wallet's Users of More Than 129 Million ADA

June 24, 2026

A defect in SecondFi's wallet-generation code let one operator sweep 129 million ADA from 3,072 Cardano wallets, reconstructed transaction by transaction.

Investigation

Cardano

Crypto wallet

Wallet security

Bitquery Research

How a Solana 'AI Scanner' Signals Channel Manufactures Its 10x Calls

June 24, 2026

All 25 calls from a Solana 'AI scanner' channel, checked on-chain. Five ever ran; twenty fell 70% to 99% within the hour. The winners are survivorship.

Investigation

Solana

Memecoins

Market Integrity

Divyasshree

The Token Factory: 6,018 Buyers, One Wallet, and a #1 Trending Coin

June 24, 2026

6,018 buyers, $2M in volume, no real holders — one operator owns 99.3% of the supply and ships a new patriotic-sounding token almost every day.

Investigation

Solana

Memecoins

Bitquery Research

$812M, One Ghost Wallet, Three Exchanges — Nobody Flagged It

June 23, 2026

Six major exchanges fed a four-day-old burner that moved $812M on TRON in plain sight — every hop public, zero compliance alerts, cash-out at OKX, Kraken, and Binance.

Investigation

Financial Crime

AML

Bitquery Research

$110M in Fraud Proceeds Walked Straight Through the World's Top Exchanges

June 17, 2026

A single 15,000 USDT Flash USDT payment opened a TRON laundering circuit that moved more than $110 million in 90 days. Exchange monitoring flagged none of it.

Investigation

Financial Crime

AML

Bitquery Research