According to @lookonchain, the launch of Egypt Cat ($SPHYNX) appears to be marred by insider trading. An insider allegedly used 10 newly created wallets to acquire 496.2 million $SPHYNX tokens, which equates to 49.62% of the total supply. These wallets were created just one hour before the token launch, and funds were withdrawn from Binance in $SOL to purchase $SPHYNX. The insider spent 3,890 $SOL, equivalent to $670,000, on these transactions.