Meme Coin Trader: $152,000 Lost in Insider Trading!
😿 A meme coin enthusiast fell prey to insider trading involving CoolCoin ($COOL) on the Solana network, as reported by analysts at #Lookonchain.
🤔 The trader invested 1600 SOL to acquire 2.2 million $COOL, only to hastily sell them for a mere 532.58 SOL within half an hour, resulting in a staggering loss of 1067.42 SOL ($152,000).
👀 Earlier, Lookonchain flagged suspicious activities on the network resembling insider trading. They uncovered a trader holding the lion's share of CoolCoin #tokens.
Their investigation revealed the trader's acquisition of 574.27 million COOL for 35.4 SOL ($5000) and its subsequent distribution across multiple addresses. In a span of just one hour, the insider offloaded 22.81 million COOL from five wallets, netting 11,896 $SOL ($1.69 million).
🔍 Presently, the trader still retains ownership of 551 million COOL (55.1% of the total supply), valued at over $20 million.
