LIVEThe Minette token brought the insider $2.5 million in less than 24 hours.
An unknown user made $2.5 million in unrealized profit on the new Minette token in an insider transaction by investing 2.89 SOL ($445) in it. Lookonchain analysts drew attention to this.
The trader withdrew 3.89 SOL ($600) from Binance and spent 2.89 SOL ($445) to buy 2.46 billion Minette in the same block in which the developer added liquidity.
15 hours later, he sold 1.04 billion Minettes for 998.7 SOL ($153,560), leaving 1.42 billion Minettes worth $2.5 million on his balance sheet.
Analysts pointed to the risk of a rug pull because Minette's developer, VibeCat, did not burn tokens from the liquidity pool. In addition, insider dumping of tokens into the market continues.
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