According to Foresight News, a suspected insider trader reportedly purchased 24.6 billion Minette tokens approximately 15 hours ago. The transaction, which cost the trader 2.89 SOL (approximately $445), occurred in the same block where the project's liquidity was increased. The trader's profit from this transaction is estimated to be around $2.5 million.
The developers of VibeCat, the project behind the Minette token, have not burned their LP tokens. This has raised concerns about the potential risk of a 'Rug Pull', a scenario where developers abandon a project after making substantial profits, leaving other investors at a loss. It is important for investors to be aware of such risks when investing in cryptocurrency projects.
