A meme coin trader fell victim to insider trading and lost $152,000 in half an hour!

🙀 A user became a victim of insider trading with the meme coin CoolCoin ($COOL) on the Solana network, reported by analysts at Lookonchain.

🤷 The trader spent 1600 $SOL to buy 2.2 million $COOL, but managed to 🙈 sell them for only 532.58 #Solana less than half an hour later, losing 1067.42 SOL ($152,000) in the transaction.

👆 Previously, Lookonchain had noticed suspicious activity on the network that resembled 👀 insider trading. They identified a trader who owned the majority of the issued CoolCoin tokens.

According to their findings, he 💰bought 574.27 million #COOL for 35.4 #SOL ($5000) and distributed them across several addresses. Within 🕐 an hour, the insider sold 22.81 million COOL from five wallets, earning 11,896 SOL ($1.69 million).

✔️ Currently, he still owns 551 million COOL (55.1% of the total supply) valued at over $20 million.$MEME

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