2024-05-11 10:33:30
According to Lookonchain, there is a draw risk for an altcoin based on Solana (SOL).
While the Solana-based Altcoins Interest continues to grow, with one investor making millions of dollars from one of these tokens.
According to Lookonchain’s post, an insider made $2.5 million with a coin called Minette. The trader who withdrew 3.89 Solana from Binance to purchase Minette purchased 2.46 billion tokens for 2.89 SOL (worth $445).
“An insider traded 3.89 SOL ($600) for 999 SOL ($153.56k) in just 15 hours, making $2.5 million in unrealized profit. He withdrew 3.89 SOL ($600) from Binance and spent 2.89 SOL ($445) to buy 2.46 billion Minette in the same block where the developer increased its liquidity. He then sold 1.04 billion Minettes for 998.7 SOL ($153,000), making an unrealized profit of $2.5 million with the remaining 1.42 billion Minettes. – writes Lookonchain.
From 3.89 $ SOL($600), the insider turned it to 999 $ SOL($153.56K) in just 15 hours and shows $2.5 million in unrealized profits.
He struck out 3.89 $ SOL($600) from #Binance and I spent 2.89 $ SOL($445) to buy 2.46 billion #Minette to the same block where the developer added liquidity.
SO… pic.twitter.com/daxXb6h59P
– Lookonchain (@lookonchain) May 10, 2024
The analyst firm also pointed out that the Minette developer still has not burned the liquidity pool (LP) tokens, so there is a risk of disruption.
“Note that the developer of VibeCat (Minette) does not burn LP tokens, so there is a draw risk for the project.”
According to the information, it is coin exchange rate fell almost 30% in the last 24 hours.
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#Rug #pull #alleged #altcoin #based #Solana