Angel and Black Earl exchanged glances. Neither spoke, yet each understood what the other meant.
Black Earl hesitated. "The Frost Moon Alliance may indeed be manipulating things from behind the scenes. However, nearly all of the Frost Moon Alliance's core members can be traced. Most are stationed in the Southern Region, the Abyss, or wilderness-expedition frontlines across various worlds. Setting aside the wizards remaining in the Southern Region, those in the Abyss and on the expedition frontlines have wizards from other organizations nearby who can vouch for them."
In other words, the Frost Moon Alliance had not sent anyone to the Panic Realm at all.
Even if they had dispatched a few hidden agents to the Panic Realm, they definitely would not have been core members.
If that was the case, there was no need for the Frost Moon Alliance to deliberately conceal the truth about the Panic Realm.
It was like the situation Black Earl had described earlier regarding the Manluo Plane. Once Sky Mechanical City discovered an opportunity for profit, it found an excuse to send a large number of its backbone forces to seize the Manluo Plane.
At that time, the wizards left behind in Sky Mechanical City had basically all been pure academy types.
Now look at the situation in the Panic Realm.
If the Panic Realm were truly valuable enough for the Frost Moon Alliance to conceal information about it for profit, then at the very least, they should have sent a group of wizards there to secretly smuggle resources back.
But the Frost Moon Alliance had not done so. Every core member within the alliance could be tracked, which meant they had never gone to the Panic Realm.
There was another point Black Earl could not understand.
The Frost Moon Alliance had indeed spread