Bought 5 seconds later, earning 567x

Recently, many Solana-based tokens, as well as meme coins, provide great profits to their investors in the short term. In particular, purchases made seconds or minutes after the tokens are released attract suspicion, but bring hundreds of times the profit to their investors.

3 SOL made 1703 SOL

According to on-chain data platform Lookonchain, an investor bought MYRA Solana-based token 5 seconds after it launched. This person, who spent a total of 3 SOL on his purchases, received 61.8 million tokens.

The whale sold 33 million MYRA in a short period of time, obtained 603 SOL, and currently holds 28.7 million MYRA tokens. These tokens correspond to a total of 1100 SOL.

In other words, the investor spent only 3 SOL and made a profit of 1700 SOL in one day.

Those who do such operations are likely to be developers working on behalf of the project or the owners of the project. The fact that the purchases are made seconds after the project is opened for processing seriously increases these suspicions.

Published: January 15, 2024 11:19