Trader Loses Over $1 Million in $SOL Buying Meme Coin

According to BlockBeats, on August 29, a new wallet spent 7,156 SOL (roughly $1.03 million) in a single transaction to buy a meme coin called MBAPPE. The current value of the tokens held by the wallet has dropped to just $9,200.

The trader suffered a loss of over $1 million within an hour. Monitoring by @ai_9684xtpa revealed that Mbappe’s account was hacked and used to promote the MBAPPE meme coin