According to Odaily, many traders have experienced losses on the Solana chain through transactions involving the Jenner token. This includes a trader who had previously made a profit of $3.7 million within five days from BOME transactions.
The trader had initially spent 2,620 SOL to purchase BOME and sold it for 21,159 SOL, making a profit of 18,539 SOL, equivalent to approximately $3.7 million, within five days. However, the same trader then spent 1,208 SOL to buy Jenner tokens, but only managed to sell them for 423 SOL, resulting in a loss of 785 SOL, approximately $133,400, within a single day.
This incident highlights the volatility and risk associated with cryptocurrency trading, particularly with lesser-known tokens such as Jenner. Traders are advised to exercise caution and conduct thorough research before engaging in such transactions.