Posted 1/18/2024, 1:51:12 PM
Trader Turns $878 Into Over Half a Million in Hours With New Memecoin, Raising Red Flags
- Insider trader turned $878 of Ethereum into $550K in 8 hours with new memecoin FERRET
- Data shows trader purchased 80M FERRET tokens right after launch using 0.34 ETH
- Within hours, trader sold 11.8M FERRET for 21 ETH ($54K), still holds 68.2M FERRET worth $497K
- Same wallet address indicates insider trading between creator and trader of memecoin
- Regulators warn of pump-and-dump schemes in crypto; traders should beware risks