Lookonchain analysts suspected 15 wallets of insider trading with the meme token focai.fun (FOCAI).
The addresses allegedly purchased 60.5% of the coin's issuance for about $14,600 and then sold the assets at the peak price for $20.5 million — their profit amounted to 136,000x.
The most "successful" address acquired 123.32 million FOCAI for 5.39 SOL ($1,168) and sold for 16,070 SOL ($3.47 million).
At the same time, the dump did not significantly affect the FOCAI quotes. After the alleged insider trades, the token's market capitalization fell from $46 million to $40 million.