BlockBeats News, May 9th - Prominent KOL Huanbalongwang made a post on X in response to the "sat1 Pump-and-Dump Event," stating:

He only participated as a trader and has no affiliation with the sat1 token project itself;

The pump-and-dump for sat1 was only announced within the group, with other groups amplifying the pump-and-dump through reposts to increase its impact, aiming to create liquidity through this;
The reason for the pump-and-dump was to surpass sato and achieve mutual gains for all, but they underestimated the intensity of the primary market PVP and failed to form a united front;
His current holdings are approximately at the break-even point, with a cost of 565 ETH and a current value of 543 ETH.

The response to the pump-and-dump event is as follows: he will immediately sell all sat1 holdings and compensate the loss-making users with the ETH obtained, no longer seeking personal gains or losses, and will withdraw from the network after the event is resolved.