MASTR-Recherchen
LAPTOP: pre-launch inventory and $2.34 million in sale receipts
MASTR's reconstruction connects a distribution allocation to 107 matched sales and reconciles the USDC outflows.
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The allocation was not a public market purchase
The investigation follows the Base token at 0xB095274743941e953c746F9C228DA9c18Bb6ec29. On 8 September at 14:59:45 UTC, distribution wallet 0x8aeaffde02e751c04d96cec90d93f93c50bcc530 sent 2,500,000 LAPTOP to 0x65ed1c81cd2d72f756f492be408be4e0d97583e0. An earlier 10-token test was returned and is excluded from that allocation.
The recipient's recorded outflows reconcile to the full 2,500,000 tokens. Two transfers of 1,000 and 2,098,700 LAPTOP went to 0xf8191d98ae98d2f7abdfb63a9b0b812b93c873aa. Two other addresses received 200,000 tokens each, and 3 earlier transfers accounted for another 300. This establishes how the allocation was distributed. It does not mean every recipient sold everything received.
The sales wallet
Wallet 0x4b3f1048c55faa0c0873e249e541139360501f2a received 810,000 LAPTOP in 5 transfers from the intermediate wallet. MASTR matched 107 outgoing token movements to USDC receipts in the same transactions between 12:15 and 13:59 UTC on 9 September.
The matched sales disposed of 609,255.000000024614177365 LAPTOP. Gross USDC receipts were 2,340,804.464701. The same wallet sent 120.960205 USDC out within those sale transactions, leaving 2,340,683.504496 USDC after the visible deductions. The microscopic fractional fill is retained in the exact ledger rather than rounded away.
No LAPTOP purchase by that sales wallet appears in the captured launch-period history. The inventory arrived through transfers connected to the pre-launch allocation. Offchain loan terms, repayment obligations, OTC consideration and hedges remain unknown, so transferred inventory cannot simply be called economically free.
The USDC accounting closes
The wallet forwarded 2,335,683.504696 USDC in 6 transfers to 0x10d25ac831e84b2ddc066b7f3a807fca0d672649. It converted another 5,000 USDC into 1.994238567633373184 ETH delivered back to itself. Four unrelated tiny deposits contributed 0.000200 USDC.
The reconciliation is exact: 2,340,683.504496 + 0.000200 − 2,335,683.504696 − 5,000 = 0 USDC. The ETH conversion is use of the same proceeds, not another sale to add to the total.
What the finding establishes
The record establishes a pre-launch allocation route, transferred inventory, completed sales and subsequent proceeds movements. It does not independently establish Hunter Biden's ownership of these wallets, unlawful insider trading or final profit after contractual costs and taxes. The token is fungible; a transfer path through a pooled address does not identify the exclusive origin of every smallest unit.
The original ledger below contains the individual transaction references and accounting. Compare this case with the claim-wallet sales and wallet attribution.