On October 23, Lookonchain reported that a certain address, kimchi (@kimchi1x), received 500 million $kimchi tokens and posted related content. User @a1lon9 had retweeted it but later deleted the post, and @kimchi1x also removed the original post. The price of $kimchi surged to a market cap of $14 million before crashing over 95%. Lookonchain pointed out that the scammers used multiple wallets to buy low and then sell, making profits exceeding $385,000.