$150M In 'Presale' Meme Coins Sent To Random Strangers' Solana Addresses, Investigation Reveals
Portfolio Pulse from Murtuza Merchant
An investigation by ZachXBT revealed that nearly $150M in SOL was sent to strangers' Solana addresses in meme coin presales, raising concerns over potential fraud. Over 33 presale events have occurred since March 12, with Smolecoin and Slerf meme coins experiencing significant issues. Solana's co-founder Anatoly Yakovenko and others have expressed concerns over these developments. The market for meme coins saw a downturn in Tuesday trading.
March 19, 2024 | 11:42 pm
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Nearly $150M in SOL was sent to strangers' addresses in meme coin presales on Solana, with significant concerns over potential fraud and market manipulation. Solana's co-founder expressed concerns, and meme coins faced a downturn in trading.
The investigation revealing a large amount of SOL being sent to strangers for meme coin presales, along with concerns expressed by Solana's co-founder and the subsequent market downturn for meme coins, suggests a negative short-term impact on SOL's price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100