- Prominent footballer Kylian Mbappe’s Twitter account hack saw hackers releasing a $MBAPPE memecoin.
- The token showed significant price surges before plummeting to zero.
The memecoin sector holds consistent traders’ interests, which results from unique instances. It frequently sees the launch of new tokens apart from several rug-pull incident reports. Relatedly, in the last 24 hours, a memecoin scam was committed related to the prominent football star, Kylian Mbappe.
According to reports, the prominent footballer’s X account was compromised in the Asian morning hours of August 29. The hackers then proceeded to launch a memecoin named $MBAPPE which saw huge sales as prices rocketed on the charts. During this time, one particular trader managed to elicit profits from this circumstance.
Furthermore, the hack also saw Mbappe’s account posting several Ronaldo-Messi pictures which raised suspicions. Additionally, several community members and on-chain watchers reported the token to have seen 90,000 sales before being deleted as shown in Solscan data. Moreover, $MBAPPE prices surged to ‘tens of millions’ after which it plummeted to zero.
While this can be identified as a typical rug-pull incident, the aforementioned trader is known to follow such strategies for his resultant profits. It is not a novelty that crypto experts seize market opportunities to witness huge gains, while they might also incur contrasting losses.
How Did the Trader Capitalize $MBAPPE?
According to LookOnchain reports, the trader managed to gain massive profits. He sold 0.2 Solana tokens worth $29 to buy the $MBAPPE tokens right before its surge. At the memecoin’s peak, the trader sold his holdings in exchange for 866.13 SOL worth $125.16K.
Moreover, from these transactions, he managed to make a profit of 4330x returns. Previously, the trader was also seen performing similar patterns of exchanging 0.1 SOL to 0.3 SOL for other memecoins. LookOnchain reports his win rate to be 35.46% and a total profit of $126.7K.
Notably, the Solana blockchain has witnessed the launch of several memecoins over the past few months. The Solana ecosystem also has seen the rise of PolitiFi tokens, revolving around leaders such as Donald Trump and Kamala Harris.
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