Musk replied with just one 💯, directly pushing SLINK's market cap from under $800,000 to nearly $80 million.
Four other large accounts also followed in, with a combined unrealized loss of more than $800,000.
At around 7:15 p.m. Eastern Time on September 4, Musk's girlfriend, Neuralink executive Shivon Zilis's X account suddenly posted, publicly supporting a project called ShivoLink.
Zilis and Musk have four children together, and this relationship led many to believe that ShivoLink was a new project made by someone close to Musk, while the project's account was promoting the SLINK token at the time.
About 14 minutes later, Musk replied with a 💯 under the post, and many people took the emoji as his endorsement. Funds quickly poured into SLINK, pushing its market cap to nearly $80 million within minutes.
But Zilis's account was suspected to have already been hacked at the time, and the related posts were soon deleted. SLINK then fell from its peak to below $2 million, a drawdown of more than 97%.
One account spent about $250,000 to buy SLINK and by the time of the report was already down $230,300. Three other large accounts were also trapped at the top, with the largest unrealized loss reaching $342,700.
$BTC
Four other large accounts also followed in, with a combined unrealized loss of more than $800,000.
At around 7:15 p.m. Eastern Time on September 4, Musk's girlfriend, Neuralink executive Shivon Zilis's X account suddenly posted, publicly supporting a project called ShivoLink.
Zilis and Musk have four children together, and this relationship led many to believe that ShivoLink was a new project made by someone close to Musk, while the project's account was promoting the SLINK token at the time.
About 14 minutes later, Musk replied with a 💯 under the post, and many people took the emoji as his endorsement. Funds quickly poured into SLINK, pushing its market cap to nearly $80 million within minutes.
But Zilis's account was suspected to have already been hacked at the time, and the related posts were soon deleted. SLINK then fell from its peak to below $2 million, a drawdown of more than 97%.
One account spent about $250,000 to buy SLINK and by the time of the report was already down $230,300. Three other large accounts were also trapped at the top, with the largest unrealized loss reaching $342,700.
$BTC
