A meme coin trader fell victim to insider trading and lost $152,000 in half an hour!
đ A user became a victim of insider trading with the meme coin CoolCoin ($COOL) on the Solana network, reported by analysts at #Lookonchain .
𤡠The trader spent 1600 SOL to buy 2.2 million $COOL, but managed to đ sell them for only 532.58 SOL less than half an hour later, losing 1067.42 SOL($152,000) in the transaction.
đ Previously, Lookonchain had noticed suspicious activity on the network that resembled đ insider trading. They identified a trader who owned the majority of the issued CoolCoin #tokens .
According to their findings, he đ°bought 574.27 million COOL for 35.4 SOL($5000) and distributed them across several addresses. Within đ an hour, the insider sold 22.81 million COOL from five wallets, earning 11,896 $SOL ($1.69 million).
âď¸ Currently, he still owns 551 million COOL (55.1% of the total supply) valued at over $20 million.
