Unknown increased his investments 400 times in five hours with the FartCaster token

Crypto users suspected that the deal was conducted by the creator of the token himself

05.02.2024 - 09:31

277

2 min

What’s new? Analysts of the Lookonchain project have discovered an address whose owner increased his investment in native tokens of the Solana (SOL) blockchain 400 times in five hours. Thus, on February 4, the trader used 18 SOL worth $1758 to buy 55,1 billion FartCaster meme tokens, which amounted to 55,1% of the total supply of the asset. The transaction was made within the same block in which the FartCaster developer opened trades.

Source: Twitter.com

What else is known? After the meme token rate spike, the trader sold 53,94 billion FartCaster for 7215 SOLs, valued at $703 000. In the comments to the Lookonchain post, users allowed the possibility that the transaction was conducted by the creator of the meme token, or an insider, and the project itself is fraudulent.

According to the CoinGecko aggregator, the asset is traded on the decentralized exchange (DEXs) Raydium in the Solana ecosystem. At the time of writing, it ranks fourth among DEXs on all blockchains in terms of daily trading volume and second in the Solana ecosystem with $211,08 million.

Earlier, Lookonchain described how a user made $3,3 million in three days on investments in the PORK meme token, and another trader made $1,17 million by participating in the airdrop.

Author: