✂️ Insiders fleeced investors of $1.49 million in 10 hours
🤯 Four insider wallets purchased the meme token Thug for $255k in the same block in which the developer was adding liquidity (initiating trading). Then, during the listing pump, they 💵 sold their tokens over 10 hours and earned 9,954 $SOL ($1.49 million), wiping Thug to zero.
🤷 This is a standard practice in meme tokens, especially on the Solana network. If a trader didn't participate in the presale, then buying at the listing means they end up trading against developers and other insiders, who, like a casino, always come out on top.🧐
