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Insider Scam in Meme Coin: Turned His Money into 279 Times in Just 1 Hour! - Coin Bulletin
In the cryptocurrency market, an insider made a profit of 947 thousand dollars in just one hour with strategic transactions made in a short time.
According to the data of the crypto analysis platform Lookonchain, this insider purchased 16 Solana (SOL), equivalent to approximately 3,384 dollars, through six different wallets for 72.67 million AGiXT.
Shortly after, he sold these tokens for 4,468 Solana ($950.3 thousand) and made a net profit of 4,452 Solana ($947 thousand). The insider's move, carried out on the platform 'pump.fun', is considered as a product of a strategy that is prone to manipulation.
With this transaction, the insider reached 4,468 Solana with only 16 Solana investment, making a 279 times profit and once again revealed the rapid profit potential in the cryptocurrency market.
A similar example was previously analyzed by Spot On Chain, involving a whale with the address "0x001". This large investor purchased 8.31 million AIXBT tokens with a similar name, spending $5.18 million within four days, causing the price to rise by 41%. The investor currently has an unrealized profit of $2.2 million.