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Insiders Made $1.49 Million in 10 Hours with This Meme Coin - Coin Newsletter
Investors with inside knowledge of a meme coin have made more than a million dollars.
According to Lookonchain's claims, insiders with the Thug token made 9,954 Solana ($1.49 million) by selling Thug to ordinary investors in the market.
They traded within the same block that the Thug developers traded to add liquidity to the token, and spent 1,500 Solana ($225,000) from four different wallets to purchase 674 million Thugs.
The individuals then distributed the 674 million Thugs to multiple wallets and sold 464 million Thugs for 11,454 Solana ($1.72 million)**.
It was stated that these individuals, who were thought to have insider information, made 1.49 million dollars in 10 hours**, while the remaining 210 million Thugs were burned**.