{"id":16503,"date":"2024-08-29T10:55:47","date_gmt":"2024-08-29T07:55:47","guid":{"rendered":"https:\/\/forklog.com\/en\/user-nets-4330-fold-profit-on-fake-mbappe-token\/"},"modified":"2024-08-29T10:55:47","modified_gmt":"2024-08-29T07:55:47","slug":"user-nets-4330-fold-profit-on-fake-mbappe-token","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/user-nets-4330-fold-profit-on-fake-mbappe-token\/","title":{"rendered":"User Nets 4330-Fold Profit on Fake MBAPPE Token"},"content":{"rendered":"<p>Hackers breached the social media account of French footballer Kylian Mbapp\u00e9 to promote a counterfeit token named MBAPPE. Within minutes, the token&#8217;s market capitalization soared to tens of millions of dollars before the developers executed a <span data-descr=\"a practice of inflating the value of a created token in a liquidity pool followed by a sudden withdrawal of funds; subsequently, other pool participants are left with devalued assets\" class=\"old_tooltip\">rug pull<\/span>, reports <a href=\"https:\/\/www.mirror.co.uk\/sport\/football\/news\/kylian-mbappe-twitter-hacked-madrid-33557694\">Mirror<\/a>.<\/p>\n<p>One user lost $1 million in a matter of minutes. According to analysts at Lookonchain, this individual purchased tokens for 7156 SOL ($1.03 million), which are now valued at $9200.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Someone created a new wallet and spent 7,156 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($1.03M) to buy a <a href=\"https:\/\/twitter.com\/hashtag\/MEMEcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#MEMEcoin<\/a> named <a href=\"https:\/\/twitter.com\/search?q=%24MBAPPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MBAPPE<\/a> in a single transaction, which is now only worth $9.2K.<\/p>\n<p>This person lost more than $1M in just 1 hour!?<a href=\"https:\/\/t.co\/IKsUN14km1\">https:\/\/t.co\/IKsUN14km1<\/a> <a href=\"https:\/\/t.co\/kTF6SQCKT4\">pic.twitter.com\/kTF6SQCKT4<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1828981144341360747?ref_src=twsrc%5Etfw\">August 29, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Conversely, another wallet acquired tokens for 0.2 SOL ($29) and swiftly sold them for 866.13 SOL ($125,160), achieving a 4330-fold profit. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This guy who trades <a href=\"https:\/\/twitter.com\/hashtag\/MEMEcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#MEMEcoins<\/a> like buying lottery tickets finally hit the 4,330x jackpot!<\/p>\n<p>He spent 0.2 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($29) to buy <a href=\"https:\/\/twitter.com\/search?q=%24MBAPPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MBAPPE<\/a> and sold it 3 minutes later for 866.13 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($125.16K), a 4,330x return!<\/p>\n<p>Over the past month, he traded 251 MEMEcoins, investing 0.1 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>, 0.2 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>,\u2026 <a href=\"https:\/\/t.co\/hreNVUcyEF\">pic.twitter.com\/hreNVUcyEF<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1828986291335377338?ref_src=twsrc%5Etfw\">August 29, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts believe the address is not linked to insiders, as it has invested similar amounts in 251 meme coins over the past month.<\/p>\n<p>Previously, ForkLog reported that McDonald\u2019s Instagram account was hacked to promote a fake token.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hackers breached the social media account of French footballer Kylian Mbapp\u00e9 to promote a counterfeit token named MBAPPE. Within minutes, the token&#8217;s market capitalization soared to tens of millions of dollars before the developers executed a rug pull, reports Mirror. One user lost $1 million in a matter of minutes. According to analysts at Lookonchain, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1227,1161,828],"class_list":["post-16503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-transactions","tag-memes","tag-sports"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16503"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16502"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}