Solana · pump.fun callouts · Sep 1 – Oct 9, 2026
A Bubblemaps thread said pump.fun caller @0xEthan buys with three side wallets in the same second as his own buy, posts the call, and sells within minutes. We checked it against our own trade data and Mobula's transfer records. The thread holds up, and the money trail ties all four wallets to one funding source.
The money trail
Plain SOL transfers between wallets, with swap payments into token pools excluded. Line thickness scales with the SOL moved. Hover or tap a wallet to see its links and full address.
It funded Ethan and 1chd directly, and its feeder wallet 8DsXke funded GKMJ. Its own first 10 SOL came through 5zKxnTh4 from ChangeNOW, a no-account exchange, so the trail stops there.
Trading pattern
For each of Ethan's 617 tokens we took his first buy, then counted every other wallet that bought the same token within 2 seconds of it. The three named side wallets lead by a wide margin. Most of the rest are copy bots (see below). Hc8 is included for comparison.
“Share” is the fraction of everything that wallet bought since Sep 1 that was one of Ethan's tokens. The side wallets trade almost nothing else.
Ethan's tokens that CLiX also bought, by day of Ethan's first buy (UTC). 189 tokens in total; Oct 9 is a partial day.
It's a few a day from Sep 12, then 22 on Oct 6, 25 on Oct 7 and 66 on Oct 8. Bubblemaps counted 49 callouts from Sep 22 to Oct 9, so many of these joint buys were never called publicly.
Who makes the money
Profit counts only Ethan's tokens since Sep 1: the USD value received from sells, including swaps into other tokens, minus the value spent on buys. Anything still held counts as a loss. The side wallets sell first. Their median first sell comes 0.8–1.1 minutes after Ethan's buy, against 1.6 minutes for Ethan himself.
| Wallet | Bought | Sold | Profit | 1st sell |
|---|---|---|---|---|
| Ethan | $225,400 | $259,058 | +$33,658 | 1.6 min |
| GKMJwv… | $64,181 | $90,043 | +$25,862 | 1.1 min |
| 1chdHB… | $50,327 | $71,714 | +$21,386 | 0.8 min |
| CLiXvf… | $37,344 | $52,464 | +$15,120 | 0.9 min |
The side wallets return about 40% on what they spend, against 15% for Ethan, and they sent him about 784 SOL (GKMJ 397, 1chd 207, CLiX 180). Together the four wallets made about $96k on these swaps. Bubblemaps estimated $45k from trading plus $80k in callout rewards.
Copy bots
A copy bot here is a wallet with no money link to the group that, since Sep 1, made its first buy of at least 10 of Ethan's tokens within 60 seconds after him. That had to cover at least half of all the Ethan tokens it bought, and it had to buy before him on no more than 1 in 10. Ethan is rarely early: a median of 47 other wallets bought each token before he did. So a wallet that keeps landing right after him, and almost never before, is following him.
Each bar counts first buys of Ethan's 617 tokens, by how many seconds before (left) or after (right) his own first buy they landed; the three side wallets are left out. Copy bots almost never buy before him, and they pile up in the first two seconds after. Every other wallet spikes there too: 2,516 first buys land in second 0, against roughly 750 per second just before. That suggests many more occasional copiers below our threshold.
Wallets by their median delay after Ethan's buy, and how many of each group also copy his sells.
The fastest group trades the way automated copy tools do. 28 of the 52 also sell within 5 seconds of Ethan's first sell, and 15 pay the same SOL amount on every buy. The slower groups rarely copy sells, so they may be people or alert bots reacting to his buys or his posted calls.
Copy bots make up about 6% of the buying in the minute after Ethan's buy. They help, but most of the demand the side wallets sell into comes from the general rush on these tokens.
| Wallet | Tokens copied | Median delay | Within 2 s | SOL per buy | Buy size | Copies sells |
|---|
“Tokens copied” counts first buys landing 0–60 s after Ethan's, out of all Ethan tokens that wallet bought. “Copies sells” is the share of those tokens where its first sell came within 5 s after Ethan's first sell. “Fixed” buy size means amounts vary by under 10%.
Return on the tokens each group bought, since Sep 1, before fees. Copy bots are grouped by how fast they copy.
The copy bots made $28.6k together on $317k of buys, a 9.0% return. The faster the bot, the better it did. The side wallets made four times that rate.
| Copies within | Wallets | Spent | Profit | In profit | Median wallet |
|---|---|---|---|---|---|
| 0–2 s | 52 | $184k | +$21.8k | 33 | +$28 |
| 3–15 s | 33 | $101k | +$6.7k | 19 | +$24 |
| 16–60 s | 31 | $32k | +$0.2k | 17 | +$2 |
| All copy bots | 116 | $317k | +$28.6k | 69 |
These figures leave out trading fees and the priority tips fast bots pay to land first. With a median profit of $24–28 over dozens of trades, the typical copy bot is likely at or below zero once those are counted. 47 of the 116 lose money even before fees. Only 42–46% of copied tokens end in profit, so gains depend on a few winners: the best bot made $5.1k from just 10 tokens.
Hc8 paid exactly 1.481 SOL on all 413 of its buys. A fixed buy size is a copy-trading bot setting. Ethan's amounts vary.
Of all the copy bots, Hc8 looked most like part of the group. It copied 21 of Ethan's tokens, 20 of them in the same second, and 87% of its sells landed in the same second as a side wallet's sell. The transfer records rule it out:
Backtest
We replayed Ethan's 620 buys since Sep 1 that had price data, using actual trade prices second by second. For each one we bought a fixed amount after a delay and sold by one of six rules. The grid shows the average return per trade before fees. Returns are capped at 20x to limit bad price prints.
“0 s” means buying in the same second as Ethan. Selling “when Ethan sells” or “when side wallets sell” means selling after the same delay as the buy, once you see their sell.
Verdict: possible only for the fastest bots, and the edge is thin. The real copy bots back this up: those copying within 2 seconds made 11.8% before fees, and the slower ones made close to nothing. Ethan and his side wallets know when the call is coming and sell first. Copiers are on the other side of that trade.
Loose ends
None of these trade Ethan's tokens, and Mobula has no funding record for most of them. They look like storage or cash-out addresses. That's a guess, not a finding.
| Address | Paid by | SOL | Notes |
|---|---|---|---|
| GDQnERSchwsFseR2Gj723HThQFtyZZLX8LZ43Ugvbg1b | Ethan | 48.6 | 19 sends since Sep 21. Likely where Ethan cashes out. |
| 4jcJzL7ipJ8kpVwGAi73ro9wn7svkYfohY9xTktWhSLe | CLiX | 48.4 | One send on Aug 28, minutes before GKMJ was funded. |
| 5MhSnXC8ReBtfaPmCp54mKuaGagnmba7oe6MuVpZYm3D | Ethan | 17.0 | One send on Oct 5. |
| 826bwy3bsnqodQjR5FbBhSBcpn8uJGWZZg8LPYpdwekH | GKMJ | 9.8 | Sent 9.7 SOL back. Two trades in our data. |
| DoAsxPQgiyAxyaJNvpAAUb2ups6rbJRdYrCPyWxwRxBb | (pays in) | 40.4 | Frequent small payments: 119 to GKMJ, 53 to 8DsXke, 50 to CLiX. Might be callout-reward payouts; not checked. |
1chd also sent 0.8–1.5 SOL each to five small addresses (9djZmb…, BpSz9i…, DokTn1…, BwEWSs…, Hpg8Kq…).
Addresses
| Role | Address | First funded by |
|---|---|---|
| Ethan | 6yVb4pxNwDfr6rovwNnBg3SyKSvDcHGD4WdFPN1JJBqm | CLiX · 10.42 SOL · Aug 25 |
| Side / hub | CLiXvfYSJtG5SJTCWyLvXKtDag9pJiA4vSWZGgSKP19X | 5zKxnTh4 · 10 SOL · Jan 27 |
| Side | GKMJwv2AEWVcfFXUMtxokMYy5ADkjwJa89DtP8LzoA61 | 8DsXke · 10.92 SOL · Aug 28 |
| Side | 1chdHBRNu9dB7E5McJKFDsbPvfpmANdmeR7BHavhi56 | CLiX · 8.51 SOL · May 1 |
| Feeder | 8DsXkeTxjkQZBjcxhVFdrvAZ9DJ9m8qLUTkpUYUsPKAg | 3eyeGfUf · 3.49 SOL · Jan 16 |
| Cleared | Hc8CBxEa2v45NoYwSDpcBrCHHzji9JDPWyFg1XqdogsC | Binance hot wallet · 1.499 SOL · Aug 7 |